Equity Profile

ZG

Zillow Group, Inc.

Real EstateReal Estate Services$7.3B

May6Wed

Post-Earnings Recap

ReportedQ1-2026After Close4:05 PM EDT

Zillow Group, Inc. Beats on EPS, Stock Up 2.16%

Metric	Actual	Expected	Surprise
EPS	$0.53	$0.46	+381.82%
Revenue	—	$705M	—

management commentary, guidance changes, and full analysis available with Pro.

Zillow Group, Inc. Beats on EPS, Stock Up 2.16%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$0.53	$0.46	+381.82%
Revenue	—	$705M	—

Management Commentary

Tone: Unknown

No transcript is on record, and the analysis is based on numerical results only.

What It Means

Zillow Group's strong EPS performance significantly exceeded expectations, which likely contributed to the stock's 2.16% increase. However, the lack of revenue data and guidance leaves some uncertainty about future performance. Investors may be encouraged by the earnings beat but will be looking for more information in future reports.

Company Snapshot

Zillow Group, Inc. (ZG) operates in the real estate sector, providing services that help consumers buy, sell, and rent homes....

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability and will indicate how well Zillow is managing costs and generating income.

0.46

Revenue

Revenue growth reflects the demand for Zillow's services and can signal the overall health of the real estate market.

705M

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

Original Pre-Earnings Preview

Context

Company Snapshot

Zillow Group, Inc. (ZG) operates in the real estate sector, providing services that help consumers buy, sell, and rent homes. As a key player in the online real estate market, Zillow's performance is closely tied to housing trends and consumer spending in real estate.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+1289.84%

Avg Stock Reaction

-0.60%

Last Quarter Recap

In Q4-2025, Zillow reported an EPS of $0.39, significantly exceeding expectations, which reflects strong operational performance. However, the revenue figures were not disclosed, leaving some uncertainty about overall growth.

Management Promises & Guidance

Focus on enhancing user experience on the platform.
Continued investment in technology to improve service offerings.
Commitment to expanding market presence in key regions.

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Zillow's upcoming earnings, expecting a solid EPS and revenue growth. The market is particularly focused on how Zillow navigates the current real estate landscape.

Bull Case

If Zillow exceeds EPS expectations and shows strong revenue growth, it could indicate robust demand for its services, potentially driving the stock higher.

Bear Case

Conversely, if Zillow fails to meet earnings expectations or provides weak guidance, it could raise concerns about its ability to compete in a challenging real estate market.

Key Metrics to Watch

EPS

0.46

Earnings per share is a critical measure of profitability and will indicate how well Zillow is managing costs and generating income.

Revenue

705M

Revenue growth reflects the demand for Zillow's services and can signal the overall health of the real estate market.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Zillow's EPS exceed the consensus estimate of $0.46?

A beat on EPS would reinforce investor confidence in Zillow's profitability and operational efficiency.

What revenue guidance will Zillow provide for the upcoming quarters?

Guidance on revenue will be crucial for understanding Zillow's growth trajectory and its response to market conditions.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Zillow's ability to adapt to changing market conditions, particularly in tech-driven real estate services.

Supporting Evidence

Zillow's recent operational improvements may not be fully reflected in analyst estimates.

The strong EPS surprises in previous quarters indicate a trend that could continue.

Options pricing suggests a higher volatility expectation, indicating that traders may anticipate significant news.

Key Risk

If Zillow's revenue growth exceeds expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will be closely scrutinized as Zillow navigates a fluctuating real estate market.

Bull Confirmed If

An EPS of $0.50 or higher would confirm strong operational performance and investor confidence.

Bear Confirmed If

An EPS below $0.36 would raise serious concerns about Zillow's profitability and market position.

Pre-Earnings Positioning

Options Market

Implied Move

±12.98%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±12.9% while ZG has averaged ±2.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

43.4%

Calls (700)P/C Ratio: 5.78Puts (13K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Zillow beats expectations, history suggests the stock could rise, potentially confirming a positive outlook for the company's growth.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction, reflecting cautious investor sentiment.

Miss

A miss on earnings could lead to a decline in stock price, with history suggesting an average drop of around 0.78%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on user engagement metrics and how they are impacting revenue.
2Any updates on new technology initiatives or partnerships.
3Insights into market trends affecting home buying and selling.
4Management's outlook on the real estate market for the next quarter.
5Responses to competitive pressures in the online real estate space.

See the full picture

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Company Snapshot

Zillow Group, Inc. (ZG) operates in the real estate sector, providing services that help consumers buy, sell, and rent homes....

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability and will indicate how well Zillow is managing costs and generating income.

0.46

Revenue

Revenue growth reflects the demand for Zillow's services and can signal the overall health of the real estate market.

705M

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

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+1289.84%

Avg Stock Reaction

-0.60%

Last Quarter Recap

Management Promises & Guidance

Focus on enhancing user experience on the platform.
Continued investment in technology to improve service offerings.
Commitment to expanding market presence in key regions.

Expectations

Wall Street Expectations

Bull Case

If Zillow exceeds EPS expectations and shows strong revenue growth, it could indicate robust demand for its services, potentially driving the stock higher.

Bear Case

Conversely, if Zillow fails to meet earnings expectations or provides weak guidance, it could raise concerns about its ability to compete in a challenging real estate market.

Key Metrics to Watch

EPS

0.46

Earnings per share is a critical measure of profitability and will indicate how well Zillow is managing costs and generating income.

Revenue

705M

Revenue growth reflects the demand for Zillow's services and can signal the overall health of the real estate market.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Zillow's EPS exceed the consensus estimate of $0.46?

A beat on EPS would reinforce investor confidence in Zillow's profitability and operational efficiency.

What revenue guidance will Zillow provide for the upcoming quarters?

Guidance on revenue will be crucial for understanding Zillow's growth trajectory and its response to market conditions.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Zillow's ability to adapt to changing market conditions, particularly in tech-driven real estate services.

Supporting Evidence

Zillow's recent operational improvements may not be fully reflected in analyst estimates.

The strong EPS surprises in previous quarters indicate a trend that could continue.

Options pricing suggests a higher volatility expectation, indicating that traders may anticipate significant news.

Key Risk

If Zillow's revenue growth exceeds expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will be closely scrutinized as Zillow navigates a fluctuating real estate market.

Bull Confirmed If

An EPS of $0.50 or higher would confirm strong operational performance and investor confidence.

Bear Confirmed If

An EPS below $0.36 would raise serious concerns about Zillow's profitability and market position.

Pre-Earnings Positioning

Options Market

Implied Move

±12.98%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±12.9% while ZG has averaged ±2.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

43.4%

Calls (700)P/C Ratio: 5.78Puts (13K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Zillow beats expectations, history suggests the stock could rise, potentially confirming a positive outlook for the company's growth.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction, reflecting cautious investor sentiment.

Miss

A miss on earnings could lead to a decline in stock price, with history suggesting an average drop of around 0.78%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on user engagement metrics and how they are impacting revenue.
2Any updates on new technology initiatives or partnerships.
3Insights into market trends affecting home buying and selling.
4Management's outlook on the real estate market for the next quarter.
5Responses to competitive pressures in the online real estate space.