Equity Profile

Z

Zillow Group, Inc.

Real EstateReal Estate Services$8.0B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Zillow Group, Inc. is a leading online real estate marketplace that helps consumers buy, sell, and rent homes....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and financial health, which investors closely watch to gauge performance.

$0.53

Revenue Growth

Revenue growth reflects the company's ability to expand its business and capture market share, which is crucial in the competitive real estate industry.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Z Q2-2026 Earnings Preview

Context

Company Snapshot

Zillow Group, Inc. is a leading online real estate marketplace that helps consumers buy, sell, and rent homes. Operating in the real estate sector, Zillow plays a significant role in shaping how people interact with the housing market, especially as trends like remote work and changing consumer preferences continue to evolve.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+1289.84%

Avg Stock Reaction

-0.25%

Last Quarter Recap

In Q1-2026, Zillow reported an impressive EPS of $0.53, significantly beating expectations. This marks a continuation of strong performance, with the stock reacting positively after the announcement.

Management Promises & Guidance

Focus on enhancing user experience on the platform.
Commitment to expanding market share in key regions.
Plans to introduce new features that cater to evolving consumer needs.

Expectations

Wall Street Expectations

Investors are optimistic about Zillow's upcoming earnings, especially after a series of strong EPS surprises in previous quarters. However, there are concerns about whether this momentum can be sustained in a changing housing market.

Bull Case

If Zillow continues to deliver strong earnings and shows robust user engagement, it could solidify its market position and attract more investors.

Bear Case

On the other hand, if the company fails to meet growth expectations or faces challenges in the housing market, it could lead to a significant drop in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.53

EPS is a key indicator of a company's profitability and financial health, which investors closely watch to gauge performance.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its business and capture market share, which is crucial in the competitive real estate industry.

User Engagement Metrics

N/A

High user engagement can indicate strong demand for Zillow's services and may lead to increased revenue from advertising and transactions.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported user engagement metrics for the quarter?

High user engagement is crucial for Zillow's revenue growth, and any decline could signal potential challenges ahead.

How does Zillow plan to navigate the current housing market trends?

With changing dynamics in the housing market, insights into management's strategy will be critical for future performance expectations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Zillow's ability to adapt to changing market conditions, especially with its recent innovations.

Supporting Evidence

Zillow has consistently surprised on EPS, indicating stronger operational efficiency than anticipated.

User engagement metrics have shown resilience, suggesting continued demand for its services.

The options market is pricing a significant move, indicating that investors expect something noteworthy from the earnings report.

Key Risk

If user engagement metrics exceed expectations, it could lead to a reevaluation of Zillow's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will hinge on Zillow's ability to sustain its recent growth trajectory amid market fluctuations.

Bull Confirmed If

A reported EPS of $0.60 or higher would confirm strong operational performance and growth potential.

Bear Confirmed If

An EPS below $0.40 could indicate weakening demand and operational challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±20.33%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant potential move following the earnings report, suggesting that investors are anticipating volatility.

Options are pricing ±16.8% while Z has averaged ±2.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

37.4%

Calls (44K)P/C Ratio: 0.45Puts (1.1M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Zillow beats expectations, history suggests the stock could rise by around 2.16%, confirming the bullish sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately 2.16%, reflecting investor disappointment and concerns about future growth.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on user engagement metrics and how they compare to previous quarters.
2Management's commentary on strategies to address current housing market challenges.
3Insights into new features or services being introduced to enhance user experience.
4Any guidance on revenue expectations for the upcoming quarters.
5Discussion on competitive positioning within the real estate market.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Aug3

ONBMO

ON Semiconductor Corporation

PreviewView

Aug3

LBMO

Company Snapshot

Zillow Group, Inc. is a leading online real estate marketplace that helps consumers buy, sell, and rent homes....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and financial health, which investors closely watch to gauge performance.

$0.53

Revenue Growth

Revenue growth reflects the company's ability to expand its business and capture market share, which is crucial in the competitive real estate industry.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Z Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+1289.84%

Avg Stock Reaction

-0.25%

Last Quarter Recap

In Q1-2026, Zillow reported an impressive EPS of $0.53, significantly beating expectations. This marks a continuation of strong performance, with the stock reacting positively after the announcement.

Management Promises & Guidance

Focus on enhancing user experience on the platform.
Commitment to expanding market share in key regions.
Plans to introduce new features that cater to evolving consumer needs.

Expectations

Wall Street Expectations

Bull Case

If Zillow continues to deliver strong earnings and shows robust user engagement, it could solidify its market position and attract more investors.

Bear Case

On the other hand, if the company fails to meet growth expectations or faces challenges in the housing market, it could lead to a significant drop in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.53

EPS is a key indicator of a company's profitability and financial health, which investors closely watch to gauge performance.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its business and capture market share, which is crucial in the competitive real estate industry.

User Engagement Metrics

N/A

High user engagement can indicate strong demand for Zillow's services and may lead to increased revenue from advertising and transactions.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported user engagement metrics for the quarter?

High user engagement is crucial for Zillow's revenue growth, and any decline could signal potential challenges ahead.

How does Zillow plan to navigate the current housing market trends?

With changing dynamics in the housing market, insights into management's strategy will be critical for future performance expectations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Zillow's ability to adapt to changing market conditions, especially with its recent innovations.

Supporting Evidence

Zillow has consistently surprised on EPS, indicating stronger operational efficiency than anticipated.

User engagement metrics have shown resilience, suggesting continued demand for its services.

The options market is pricing a significant move, indicating that investors expect something noteworthy from the earnings report.

Key Risk

If user engagement metrics exceed expectations, it could lead to a reevaluation of Zillow's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will hinge on Zillow's ability to sustain its recent growth trajectory amid market fluctuations.

Bull Confirmed If

A reported EPS of $0.60 or higher would confirm strong operational performance and growth potential.

Bear Confirmed If

An EPS below $0.40 could indicate weakening demand and operational challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±20.33%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant potential move following the earnings report, suggesting that investors are anticipating volatility.

Options are pricing ±16.8% while Z has averaged ±2.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

37.4%

Calls (44K)P/C Ratio: 0.45Puts (1.1M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Zillow beats expectations, history suggests the stock could rise by around 2.16%, confirming the bullish sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately 2.16%, reflecting investor disappointment and concerns about future growth.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on user engagement metrics and how they compare to previous quarters.
2Management's commentary on strategies to address current housing market challenges.
3Insights into new features or services being introduced to enhance user experience.
4Any guidance on revenue expectations for the upcoming quarters.
5Discussion on competitive positioning within the real estate market.