Zillow Group reported strong Q2 2024 results with revenue rising 13% year-over-year to $572 million, exceeding guidance. Residential revenue grew 8% to $409 million, while Rentals revenue jumped 29% to $117 million and Mortgages revenue increased 42% to $34 million. The company posted a net loss of $17 million, with Adjusted EBITDA of $134 million representing 23% of revenue.The company announced a key leadership change, with COO Jeremy Wacksman being promoted to CEO and appointed to the Board of Directors, effective immediately after Q2 filing. Co-founder Rich Barton will transition from CEO to Co-Executive Chairman alongside co-founder Lloyd Frink. As part of his appointment, Wacksman's annual base salary will increase to $825,000 and he will receive equity awards including restricted stock units and stock options.Traffic metrics remained stable with 231 million average monthly unique users in Q2, while visits increased 4% year-over-year to 2.5 billion. The company maintained a strong financial position with $2.6 billion in cash and investments at quarter end, though down from $2.9 billion in Q1 2024.

Zillow Group reported strong Q2 2024 results with revenue rising 13% year-over-year to $572 million, exceeding guidance. Residential revenue grew 8% to $409 million, while Rentals revenue jumped 29% to $117 million and Mortgages revenue increased 42% to $34 million. The company posted a net loss of $17 million, with Adjusted EBITDA of $134 million representing 23% of revenue.The company announced a key leadership change, with COO Jeremy Wacksman being promoted to CEO and appointed to the Board of Directors, effective immediately after Q2 filing. Co-founder Rich Barton will transition from CEO to Co-Executive Chairman alongside co-founder Lloyd Frink. As part of his appointment, Wacksman's annual base salary will increase to $825,000 and he will receive equity awards including restricted stock units and stock options.Traffic metrics remained stable with 231 million average monthly unique users in Q2, while visits increased 4% year-over-year to 2.5 billion. The company maintained a strong financial position with $2.6 billion in cash and investments at quarter end, though down from $2.9 billion in Q1 2024.