Zillow Reports Record Q1 Results

Zillow just released record results for what was a terrific first quarter, ended March 31, 2014. You can see the entire press release here, but here are a few highlights:

  • Record revenue of $66.2 million, up 70% year over year.
  • Record average monthly unique users of 70.7 million. In April, we topped this with record monthly traffic of nearly 79 million unique users, up 50% year over year.
  • Record mobile visits doubled year-over-year, with two-thirds of visits now coming via mobile. In April alone, more than 460 million homes were viewed via mobile – that’s 178 homes per second!
  • Premier Agent subscriptions grew 56% year over year to nearly 53,000 total Premier Agents as average revenue per subscriber hit a record $286.
  • Adjusted EBITDA was $8.7 million, or 13% of revenue, up from $5.1 million, or 13% of revenue, in the year-ago quarter.

CEO Spencer Rascoff will be hosting a conference call at 2 p.m. PT / 5 p.m. ET with CFO Chad Cohen, and invites you to listen in via webcast. As with recent quarters, we will consider questions via social media using Facebook and Twitter, with hashtag #ZEarnings.

After the call, Rascoff will take to Twitter with two Internet analysts: Ron Josey, JMP Securities; and Michael Graham, Canaccord Genuity, to answer more questions. If you’d like to join the conversation, use #ZEarnings.

 

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