Post-earnings recap
Reported
Wed, Aug 5, 2026
EPS actual
$0.52
EPS est.
$0.10
EPS surprise
+420.00%
1-day move
-0.50%
Zillow Group reported a significant earnings surprise with an EPS of $0.52, far exceeding expectations. However, the stock reacted negatively, declining by 0.5%. The lack of revenue data and management commentary may have contributed to investor uncertainty.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $0.52 | N/A | +420.00% |
| Revenue | — | N/A | — |
No transcript is on record, and the analysis is based on numerical results only.
—
Est. EPS
—
Est. Rev
—
Impl. Move
±12.7%
Zillow Group, Inc. is a leading online real estate marketplace that connects buyers, sellers, and renters with properties. As a key player in the real estate sector, Zillow's performance can reflect broader trends in housing demand and consumer spending.
Last quarter
In Q1 2026, Zillow reported an impressive EPS of $0.53, significantly beating expectations. The stock reacted positively, increasing by 2.27% the following day.
Management promises and guidance
EPS beat streak
8Q
EPS beat rate
100%
Avg EPS surprise
+1275.62%
Avg 1-day reaction
-0.12%
Investors are generally optimistic about Zillow's upcoming earnings, given its strong performance in previous quarters. However, there are concerns about the sustainability of its growth amid a fluctuating housing market.
Bull case
If Zillow can maintain its earnings momentum and show strong revenue growth, it could solidify its position as a market leader and attract more investors.
Bear case
Conversely, if Zillow fails to meet expectations or shows signs of slowing growth, it could lead to a decline in investor confidence and stock price.
Key metrics to watch
Earnings Per Share (EPS)
$0.53EPS is a crucial indicator of profitability and will show how well Zillow is managing its costs and generating income.
Revenue Growth
N/ARevenue growth will indicate how well Zillow is expanding its market share in the competitive real estate industry.
The print will turn on these.
Q1
What will the EPS be for Q2-2026?
Given Zillow's history of exceeding EPS estimates, the market will closely watch this figure to gauge ongoing profitability.
Q2
How is Zillow addressing competition in the real estate market?
Understanding Zillow's strategy to maintain its market position will be critical, especially in a competitive environment.
Why consensus could be wrong
The Street may underestimate Zillow's ability to leverage its data analytics for improved user engagement, which could drive better-than-expected revenue growth.
Supporting evidence
Zillow's recent enhancements in user experience could lead to increased traffic and conversions.
The strong EPS surprises in previous quarters indicate a trend of outperforming expectations.
Options pricing suggests a significant move, indicating that investors are anticipating more than just a typical earnings report.
Key risk
If user engagement metrics show significant improvement, it could lead to a positive reassessment of Zillow's growth potential.
Pre-commit to what would confirm each case.
This quarter's performance will be pivotal in determining whether Zillow can continue its growth trajectory amid market challenges.
Bull confirmed if
An EPS of $0.60 or higher would confirm strong earnings momentum.
Bear confirmed if
An EPS below $0.40 would raise concerns about profitability and growth sustainability.
What the market is pricing for the move.
Implied Move
±16.76%
Historical Avg
±2.0%
The options market is pricing in a significant potential move, suggesting that investors are anticipating volatility around the earnings report.
Options are pricing ±16.8% while Z has averaged ±2.0% over the last 8 prints — setup is pricing rich.
ATM IV
0.7%
30d HV
37.4%
Smart-money positioning from the most recent 13F filings.
Institutional
97.61%
of float
Insider
5.53%
of float
Holders
579
institutions
Top Holders· as of Jun 2026
Caledonia (Private) Investments Pty Ltd
24,102,956 sh · $657.5M
13.60%
-6.9%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Zillow beats expectations, history suggests a potential stock increase of around 2.16%, confirming strong operational performance.
In line / cautious
If results are in line with expectations, the stock may see muted movement as investors await further guidance.
Miss
If Zillow misses earnings expectations, the stock could decline, with historical patterns suggesting a drop of around 0.25%.
The lines on the call that would change the story.
User Engagement Metrics
N/AMetrics like monthly active users can provide insights into Zillow's market reach and customer retention.
Independent Franchise Partners, LLP
16,300,754 sh · $444.7M
9.20%
23.5%
Capital World Investors
14,240,643 sh · $388.5M
8.03%
0.3%
Vanguard Portfolio Management LLC
13,327,843 sh · $363.6M
7.52%
-4.9%
Blackrock Inc.
8,159,260 sh · $222.6M
4.60%
-18.5%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.