Zillow stock slips as outlook falls short of Street view

Zillow Group Inc.
ZG,
-2.32%
shares declined in the extended session Wednesday after the real-estate site topped Wall Street expectations for the quarter, but its outlook didn’t. Zillow shares declined as much as 3% after hours, following a 2% decline in the regular session to close at $54.23. The company reported a second-quarter loss of $35 million, or 15 cents a share, versus net income of $8 million, or 3 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 39 cents a share, compared with 47 cents a share in the year-ago period. Revenue rose to $506 million from $504 million in the year-ago quarter. Analysts surveyed by FactSet had forecast Zillow earnings of 19 cents a share on revenue of $472.6 million. Zillow forecast third-quarter revenue of $458 million to $486 million. Analysts estimate third-quarter earnings of 26 cents a share on revenue of $488.1 million.