Quarter 2026 Financial Results
Zillow Group reported Q2 2026 results for the three months ended June 30, 2026. Q2 revenue rose 18% year over year to $772 million, above its outlook range. Net loss was $4 million, while adjusted net income was $118 million and adjusted EBITDA was $176 million. The company repurchased $200 million of shares and ended Q2 with $682 million in cash and investments.
How this was made
The 30-second read
Why it matters
The release contains multiple concrete Q2 performance metrics (revenue, adjusted earnings, EBITDA, cash, and buybacks) plus engagement indicators (unique users and visits down YoY) that can drive near-term positioning ahead of the webcast.
Market read
A Q2 revenue beat with strong adjusted EBITDA and a sizable repurchase is likely to be the primary driver, while the YoY decline in traffic/visits may cap enthusiasm.
What to watch
Mortgage revenue surged on purchase origination volume (up 95% to $2.2B), so traders should separate volume-driven profitability from sustainable unit economics if rates or origination volumes normalize.
Background
Zillow Group announced consolidated Q2 2026 results for the three months ended June 30, 2026, and referenced an investor shareholder letter for full details and Q3/full-year outlook.
Ticker impact
Zillow reported Q2 revenue up 18% to $772M, above the outlook range, alongside adjusted net income of $118M and buybacks of $200M.
Likely positive bias for the next session and into the Q3 call, with traders watching whether the Q2 beat offsets user-traffic declines.
The article provides multiple concrete Q2 datapoints (revenue, adjusted earnings, EBITDA) plus a specific capital return action, but it also notes mobile traffic and visits down 2% YoY, which can limit multiple expansion.
Zillow Group’s Class A and Class C results were released together, including Q2 adjusted EBITDA of $176M and a $200M share repurchase program.
Moderately positive reaction potential, largely tracking the Z response given shared fundamentals in the release.
The release is consolidated and does not provide class-specific metrics, so the incremental impact on ZG versus Z is less directly evidenced in the text.
Market effects
Housing and real-estate-adjacent digital platforms may see read-through from Zillow’s mortgage origination growth and rental revenue strength.
Primarily US housing-market sentiment, with no explicit regional breakdown in the text.
Limited global relevance; the release is US-focused and tied to US residential real estate and mortgage origination conditions.
Counterpoint
Despite the revenue and adjusted EBITDA beat, mobile app traffic and visits were down 2% YoY, suggesting demand or engagement may be softening into the second half.
Key entities
- companyZillow Group, Inc.
Subject of the press release, reporting Q2 2026 consolidated financial results and discussing outlook via the shareholder letter.
- personJeremy Wacksman
CEO quoted stating Zillow outperformed the broader housing market and its outlook.
