Zillow Surges Most in Six Months as Home-Flipping Drives Growth
- Company posted quarterly revenue that beat estimates
- Investors appear willing to look past mounting losses
Photographer: Chris Goodney/Bloomberg
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Zillow Group Inc. surged the most in six months after the company posted quarterly revenue that beat estimates, buoyed by its online marketing and home-flipping businesses.
Zillow is juggling big changes to its business model, using advertising sales to fund a push into buying and selling homes. It sold 1,211 homes in the third quarter, generating $385 million, up from just $11 million in the same period last year.