Zillow this afternoon posted revenue of $27.8 million for the second quarter, an increase of 75 percent from the same quarter a year ago. The real estate information and services company’s average monthly user base grew to 33.5 million, up 61 percent from the previous year.
Profits fell to $1.3 million, from $1.6 million in the same quarter, but the result for the quarter included $700,000 in charges related to Zillow’s $40 million acquisition of RentJuice. That translates into earnings of 4 cents per share, in line with Wall Street expectations.
The company says its traffic continues to be driven by mobile usage, with more people now searching for homes via Zillow on a mobile phone or tablet than on a traditional desktop computer. Zillow now has 13 separate apps for consumers and professionals in the real estate business. About 168 million homes were viewed on Zillow’s mobile site and apps in July.
Zillow reported Marketplace revenue of $19.6 million, more than twice the result in same quarter a year ago. Marketplace revenue includes subscriptions sold to real estate agents and ads sold to mortgage lenders. Display advertising revenue rose 33 percent to $8.1 million.
The company’s earnings conference call starts at 2 p.m. Pacific, available via this website.
