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Zillow Group, Inc. ZG Q2 2025 earnings

Reported August 6, 2025 · After market close

Revenue$655.0MMiss by $11.2M
EPS$0.40Miss by $0.04
Revenue estimate$666.2M
EPS estimate$0.44

Next report

Oct 29, 2026 (in a month)
Revenue estimate$755.7M
EPS estimate$0.58

Financials

Q2 2025

Income statement

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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

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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
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Market cap$16.95B+55.7%
Enterprise value$16.69B+33.1%
P/S7.1×+1.8×

Profitability

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

Returns & leverage

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

Segments

By product

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

By segment

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Reportable Segments$655.0M—

FAQ

When did Zillow Group, Inc. report Q2 2025 earnings?
Zillow Group, Inc. (ZG) 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 eps of $0.40 for Q2 2025.
Did Zillow Group, Inc. beat estimates in Q2 2025?
Revenue missed the consensus estimate of $666.2M by $11.2M. EPS missed the consensus estimate of $0.44 by $0.04.
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 eps grew 2.6% from $0.39.
Where can I find Zillow Group, Inc.'s Q2 2025 SEC filings?
You can read the 8-K earnings release (0001617640-25-000093) and the 10-Q periodic report (0001617640-25-000094) directly on SEC EDGAR. The filing index links above go to sec.gov.