Zillow Group shares fell due to projected lower Q2 residential revenue, citing slower homebuying activity and increased mortgage rates.
Zillow Group's shares fell after the real estate company projected lower revenue for its core residential business, citing slower first-time homebuying activity and increased mortgage rates. This led to an expected Q2 revenue of $372-$382m, down from $393m in Q1. Zillow's disappointing outlook comes amid ongoing antitrust litigation in the residential real estate industry.
May 01, 2024
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