Revenue at real estate group Zillow has continued its upward trajectory, increasing 22 percent to $$299.9 million U.S. in the fourth quarter of FY2017.
This growth was driven by increases in rentals (35 percent), premier agent (22 percent) and other (33 percent), which the company said was primarily generated from its new construction marketplaces. Revenue from mortgages declined 6 percent in the period.
“Zillow Group had a great start to 2018 and we are already executing well on our strategic priorities for the year,” chief executive Spencer Rascoff (LinkedIn profile) said.
“This year, we are taking our business beyond lead generation by creating better experiences for consumers and further strengthening our partnerships with real estate professionals.”
The company confirmed guidance for the full-year, with revenue of $322 to $327 million and EBITDA of $57 million to $62 million.
Read the full earnings report here.