Zillow Stock Surges After Strong Q3 Earnings and Revenue Growth

Zillow's impressive third-quarter performance and optimistic future projections led to a significant boost in its stock value.

Zillow reported a 17% year-over-year revenue increase to $581 million, surpassing expectations.
The company's earnings per share rose 6% to 35 cents, outperforming FactSet's forecast of 31 cents.
Revenue from rentals grew by 24%, while mortgage revenue saw a 63% increase, driven by an 80% rise in loan origination volume.
Analysts raised Zillow's stock price targets, citing strong execution and a promising outlook in a challenging housing market.
Zillow's stock has risen 40% since Jeremy Wacksman became CEO in August, with shares up 20% following the earnings report.