Earnings Releases·Nov 4, 2026, 4:06 PM ET

Zillow Group — Third Quarter 2026 Earnings Summary

Consolidated revenue rose 7% year-over-year to $724 million, while adjusted net income increased to $124 million and adjusted EBITDA grew to $182 million; however, GAAP net loss widened to $158 million compared to a $10 million net income in the prior year period.
Revenue growth was driven by a 32% surge in Mortgages revenue and a 26% increase in Rentals revenue, which offset a 4% decline in Residential sales and flat performance in total For Sale revenue due to elevated mortgage rates.
The company reported 215 million average monthly unique users, down 3% year-over-year, though it maintained a 77% market share of real estate category visitors and outperformed the 1% industry growth rate.
Adjusted free cash flow declined to $46 million from $107 million in the prior year, while cash and investments stood at $707 million at quarter-end.
Management highlighted the company's durability in a challenging housing environment but noted ongoing risks including antitrust litigation, the ZO securities class action settlement, and continued pressure from higher interest rates.