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Zillow Group, Inc. Z Q2 2025 earnings

Reported August 6, 2025 · After market close

Revenue$655.0MBeat by $7.0MDiluted EPS$0.40Miss by $0.02
Revenue estimate$648.0M
EPS estimate$0.42

Next report

Aug 5, 2026 (In 1 week)
Revenue estimate$757.8M
EPS estimate$0.44

Financials

Q2 2025

Income statement

See full
Revenue$655.0M+14.5%
Gross profit$489.0M+10.6%
Operating income-$11.0M+71.1%
Net income$2.0M+112%
EPS (diluted)$0.01+114%

Balance sheet

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Cash & equivalents$592.0M-50.0%
Total debt$328.0M-88.4%
Total equity$4.7B+5.4%
Total assets$5.4B-18.3%

Cash flow

See full
Operating cash flow$87.0M+58.2%
CapEx$37.0M0.0%
Free cash flow$50.0M+178%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$16.58B+52.3%
Enterprise value$16.32B+30.1%
P/S6.9×+1.7×

Profitability

See full
Gross margin75.8%-1.2pp
Operating margin-5.6%-1.9pp
Net margin-2.6%-1.0pp
FCF margin14.4%+7.1pp

Returns & leverage

See full
Return on equity-1.3%-0.5pp
Debt / equity0.1×-0.6×
Current ratio3.3×+1.2×

Segments

By product

See full
Residential$434.0M+6.1%
Rentals$159.0M+35.9%
Mortgages$48.0M+41.2%
Other$14.0M+16.7%

Versus estimates

Revenue

Q1 2026$708.0MBeat by $2.9MQ4 2025$654.0MBeat by $3.6MQ3 2025$676.0MBeat by $5.2M
Q2 2025$655.0MBeat by $7.0M
Q1 2025$598.0MBeat by $8.9MQ4 2024$554.0MBeat by $7.0M

Diluted EPS

Q1 2026$0.53Beat by $0.10Q4 2025$0.39Miss by $0.03Q3 2025$0.44Beat by $0.01
Q2 2025$0.40Miss by $0.02
Q1 2025$0.41Beat by $0.04Q4 2024$0.27Beat by $0.01

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Questions, answered.

When did Zillow Group, Inc. report Q2 2025 earnings?
Zillow Group, Inc. (Z) reported Q2 2025 earnings on August 6, 2025 after market close.
What were Zillow Group, Inc.'s Q2 2025 revenue and EPS?
Zillow Group, Inc. reported revenue of $655.0M and diluted EPS of $0.40 for Q2 2025.
Did Zillow Group, Inc. beat estimates in Q2 2025?
Revenue beat the consensus estimate of $648.0M by $7.0M. EPS missed the consensus estimate of $0.42 by $0.02.
How did Zillow Group, Inc.'s Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.5% from $572.0M a year earlier and diluted EPS grew 2.6% from $0.39.
Where can I find Zillow Group, Inc.'s Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001617640-25-000094) directly on SEC EDGAR. The filing index links above go to sec.gov.