Why Zillow Stock Jumped Today
Shares of Zillow Group (NASDAQ: ZG) (NASDAQ: Z) jumped 11.6% on Friday, following the real estate platform's strong second-quarter results.
Zillow Group's revenue surged 28% year over year to $768 million, driven primarily by the growth of the company's home buying and selling business, Zillow Offers. Zillow saw increased demand for many of its online services, as more people chose to peruse real estate listings in the comfort and safety of their own homes during the coronavirus pandemic.
Zillow is benefiting as real estate shopping shifts online. Image source: Getty Images.
Source Fool.com
