Zillow Reports Record Traffic, Revenues and Net Income in Q2

Q2's highlights include record revenues of $15.8 million, up 116% year-over-year.

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Today Zillow announced our second quarter results in our first earnings report as a public company.

In short, it was an outstanding quarter for Zillow with record traffic, mobile usage, revenues and profitability. You can view the entire press release, but here are a few highlights:

  • Record Revenues of $15.8 million, up 116% year-over-year.
  • Record Marketplace Revenues of $9.7 million, up 269% year-over-year.
  • Net Income of $1.6 million, marking first quarter of GAAP profitability and the fourth consecutive profitable quarter on an Adjusted EBITDA basis.
  • Record traffic: average monthly unique users grew 93% year-over-year to a record 20.8 million in the second quarter of 2011. July 2011 marked another record month with 23.2 million unique users to Zillow’s websites and mobile applications, a 98% increase from July 2010.
  • Record mobile usage: Zillow was used on a mobile device 11.9 million times in July 2011, with 28 homes viewed every second.

Please review the press release located in the investor section of Zillow.com for full details including a GAAP and non-GAAP reconciliation. We are also hosting our second quarter conference call at 2 p.m. PDT/5 p.m. EDT today and you’re invited to listen. Zillow CEO Spencer Rascoff will be joined by CFO Chad Cohen.