Zillow Q2 Net Loss Widens; Boosts FY14 Revenue Outlook

(RTTNews) - Zillow, Inc. (Z) reported a net loss for the second quarter of $10.5 million or $0.26 per share, compared to a net loss of $10.2 million or $0.30 per share for the year-ago quarter.

Excluding items, adjusted net loss per share was $0.05 in the second quarter of 2014, compared adjusted earnings per share of $0.01 in the prior year quarter.

Revenue for the second quarter increased 68% to a record $78.7 million from $46.9 million in the second quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share on revenue of $76.52 million for the second quarter.

Looking forward, Zillow expects third quarter revenue to be in the range of $87.0 million to $88.0 million.

For full year 2014, Zillow raised its revenue outlook to a range of $321.0 million to $323.0 million from its prior outlook of $304.0 million to $308.0 million.

Analysts currently expect the company to post revenue of $82.56 million for the third quarter and $310.79 million for the full year 2014.