What happened
Shares of online real estate marketing services company Zillow Group (Z +0.27%) (ZG +0.42%) skyrocketed on Thursday, rising 22% as of 10:45 a.m. EST.
The stock's gain follows the company's fourth-quarter results. It's not surprising that shares are jumping; the company's revenue obliterated analyst estimates and its non-GAAP (adjusted) loss per share was narrower than expected.
Image source: Getty Images.
So what
Zillow's fourth-quarter revenue surged 158% year over year to $943.9 million. Analysts, on average, were expecting revenue of $814.6 million. The tech company's non-GAAP loss per share of $0.26 was narrower than a consensus forecast for a loss of $0.30.
"Our team's strong execution delivered record Q4 and full year results that beat our outlook on every measure," said Zillow CEO Rich Barton in the company's fourth-quarter earnings release.
Now what
Zillow expects more wild top-line growth in the first quarter of 2020. Management guided for revenue in the period to be between $1.021 billion and $1.056 billion. Analyst forecasts called for first-quarter revenue of $912.4 million.
