Why Zillow Stock Surged on Friday

Shares of Zillow Group (NASDAQ: ZG) (NASDAQ: Z) jumped as much as 17% on Friday following the release of the real estate services company's first-quarter results. As of 3:10 p.m. EDT today, Zillow's stock was up 10%.

Revenue soared 148% year over year to $1.1 billion, driven by a sixfold increase in its Zillow Offers home-flipping business.

Notably, revenue growth in Zillow's Premier Agent business, which sells leads to real estate agents, accelerated to 11% in the first quarter, up from 6% in the fourth quarter of 2019.

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Source Fool.com