ZILLOW GROUP, INC. [ZG] reports annual net loss of $158.0 million
Company Reports Revenue of $1.9 billion
ZILLOW GROUP, INC.[ZG] has reported a net loss of $158.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.9 billion
Based in SEATTLE, Washington, ZILLOW GROUP, INC. operates in the SERVICES sector.
In the 12 months ended December 31, 2023, the revenue amounted to $1.945 billion, a slight decrease from the previous period's revenue of $1.958 billion in the same period of 2022 and $2.132 billion in 2021.
The cost of revenue for the current period was $421 million, which increased from $367 million in 2022 and $323 million in 2021.
The gross profit for the 2023 period was $1.524 billion, showing a decrease compared to $1.591 billion in 2022 and $1.809 billion in 2021.
Total operating expenses in the current year amounted to $1.794 billion, higher than the expenses of $1.684 billion in 2022 and $1.57 billion in 2021.
The income (loss) from continuing operations for 2023 reported a loss of $270 million, a decline from the loss of $93 million in 2022 and an income of $239 million in 2021.
Net income (loss) from continuing operations for the current period was a loss of $158 million, worse than the loss of $88 million in 2022 and income of $102 million in 2021.
The earnings per share from continuing operations showed a basic loss of $0.68 per share in 2023, compared to a loss of $0.36 per share in 2022 and a positive $0.41 per share in 2021. Diluted earnings per share were also negative at $0.68 per share in 2023, $0.36 per share in 2022, and positive $0.39 per share in 2021.
Overall, the company's financial performance in 2023 reflected a net loss of $158 million, deteriorating from a loss of $101 million in 2022 and a significant net loss of $528 million in 2021.
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