On February 10, Zillow Group Inc. (Z) declared its financial results for Q4 and fiscal 2021. Consequently, the stock made a comeback in the after-hours and added a good value.
The hype of the following earnings release had Z stock trading at a heavy volume of 13.66 million in regular trading. Investors flocked towards the stock well before the earnings were announced, making it trade at 261% of its average volume. Z ended the session with a loss of 1.75% at $48.79. Following the news, Z stock became bullish and added a good 17.07% at an after-hours volume of 5.07 million shares. Hence, the stock was trading at $57.12 apiece in the after-hours on Thursday.
The online real-estate and home-related information marketplaces provider, Zillow Group Inc. was founded in 2004. Currently, its 187.21 million outstanding shares trade at a market capitalization of $12.58 billion.
Zillow: 2021 Financial Highlights
The company reported consolidated revenue of $3.9 billion for Q4 2021 and $8.1 billion for fiscal 2021.
Moreover, the consolidated GAAP net loss for Q4 2021 was $261 million, while for the full year 2021, it was $528 million.
Furthermore, Z reported a consolidated adjusted EBITDA loss of $0.4 million for Q4 2021. And for fiscal 2021, the company had consolidated adjusted EBITDA gain of $195 million.
On December 31, 2021, the company’s cash and investments totaled $3.1 billion, against $3.2 billion at the end of the previous quarter. This slight decrease was a result of share repurchases in December under Z’s share repurchase program.
Recent Addition to the Team
On January 07, the company announced the appointment of Z’s first Chief Design Officer (CDO), Jenny Arden. As the company’s CDO, Arden will be responsible for various design leadership responsibilities. The focus of her steps would be a seamless, connected, and customer-centric experience across the company’s brands. Thus, she will oversee the company’s product design, research, and user experience.
Arden has vast experience of over two decades in consumer designs to consumer finance. She has served and led creative teams at big names like Nike, Lyft, and Airbnb.
Conclusion
While the company missed its earnings estimates, it did surpass the expectations for the quarterly revenue. Although, certain elements showed not much improvement the company’s team believes in future growth due to its huge untapped potential. Therefore, following the earnings release, the stock became bullish in the after-hours on Thursday.
