Zillow craters 19% after revenue guidance misses expectations

Screen Shot 2018 08 06 at 4.39.05 PM

  • Zillow shares fell by as much as 19% in after-hours trading after the company’s third-quarter revenue guidance missed analysts’ expectations. 
  • The online real estate database said it sees Q3 revenue coming in between $337 million and $347 million. Analysts had estimated $408.4 million according to Bloomberg. 
  • Second-quarter revenue also missed forecasts, at $325.2 million ($325.5 million expected). 
  • Zillow also announced that it acquired Mortgage Lenders of America to bolster its home-flipping business.
  • The company halted its stock after the market close on Monday, pending the news. 
  •  Shares had jumped 45% this year through the market close. 

Join the conversation about this story »

NOW WATCH: The man that won the Nobel Prize in economics for contract theory shares his thoughts on smart contracts

Read the full article from it’s original source: http://uk.businessinsider.com/zillow-stock-price-falls-after-revenue-guidance-miss-2018-8