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Zillow is the leading real estate information marketplace, providing vital information about homes, real estate listings and mortgages through its website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals best suited to meet their needs. More than 23 million unique users visited Zillow's websites and mobile applications in July 2011. Zillow, Inc. operates Zillow.com(R), Zillow Mortgage Marketplace, Zillow Mobile and Postlets. The company is headquartered in Seattle.

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Zillow, Inc. Announces Second Quarter 2011 Financial Results

Record Revenues of $15.8 million, up 116% year-over-year

Record Marketplace Revenues of $9.7 million, up 269% year-over-year

Net Income of $1.6 million, marking first quarter of GAAP profitability

Record Traffic and Mobile Usage



Zillow, Inc. (Nasdaq:Z), the leading real estate information marketplace, announced financial results for the quarter ended June 30, 2011.

"The second quarter was outstanding for Zillow with record revenues, traffic and mobile usage. It marks our first profitable quarter on a GAAP net income basis and our fourth consecutive profitable quarter on an Adjusted EBITDA basis," said Zillow CEO Spencer Rascoff. "We're extremely pleased with our progress and rapid growth, yet we believe we've only scratched the surface of our opportunity."

Second Quarter 2011 Financial Highlights

Total revenues increased 116% to $15.8 million from $7.3 million in the second quarter of 2010.

Marketplace revenues increased 269% to $9.7 million from $2.6 million in the second quarter of 2010. Display revenues increased 30% to $6.1 million from $4.7 million in the second quarter of 2010.

GAAP net income for the second quarter 2011 was $1.6 million, compared to a net loss of $2.0 million in the same period a year ago and a net loss of $0.8 in the first quarter of 2011.

Adjusted EBITDA was $3.9 million in the second quarter of 2011, or 24% of revenues, representing the fourth consecutive quarter of Adjusted EBITDA profitability. This compares to Adjusted EBITDA of negative $0.2 million in the second quarter of 2010 and $1.1 million in the first quarter of 2011.

More about Z at www.zillow.com


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