Like Zillow’s revenue over the years, the company's expenses fluctuated up and down.
Here is a breakdown of Zillow’s expenses since 2017: Year Zillow’s total costs and expenses amounted to $2.05 billion in 2022. Operating expenses included sales & marketing, technology & development, and general & administrative expenses. Most of the company’s cost of revenue in 2022 came from operating its mobile applications and websites. Zillow’s expenses come from two primary categories: cost of revenue and operating expenses.
Since the company doesn’t sell homes anymore, it adjusted how operations are reported, no longer counting the revenue from previous home-selling activities in financial statements. Although margins on buying and selling homes were small, selling properties inflated the company's revenue number without significantly impacting the bottom line.įor example, Zillow reported a total revenue of $8.1 billion in 2021, of which over $6 billion came from selling homes. It is worth noting that Zillow used to report revenue differently when its iBuying program was running. Here is the data table: Zillow Business SegementĪround 6% of Zillow’s revenue comes from the Mortgages segment, which includes Zillow Home Loans and advertising sold to mortgage lenders. It earns income in this segment from monetizing its website traffic primarily from advertising revenue and connecting home buyers to real estate agents. Of the company’s total revenue in 2022, nearly 94% came from the Internet, Media, and Technology (IMT) segment. Here is a table of Zillow’s revenue since 2017: Year The company peaked in 2019 with total revenue of $2.7 billion, 40% more than the company generated in 2022.īelow, you can see the pandemic's impact on the company's total revenue, dipping to just $1.6 billion in 2020. Over the past 5 years, Zillow's total revenue fluctuated. To streamline its operations and reporting, the company has announced it plans to report all of its financial results in one segment beginning in 2023. This program was discontinued in 2022, which required Zillow to report its revenue differently. The Homes segment bought and sold homes through its iBuyer program called Zillow offers. However, Zillow restructured its operation. These included the Homes, Internet, Media and Technology (IMT), and Mortgages segments. Until 2022, Zillow segmented its business into three categories. In 2022, Zillow generated $ 1.96 billion in revenue, an 8% decrease from the $2.13 billion generated in 2021. home buyers used its web properties and mobile apps. After expenses, the company lost $101 million in 2022. In 2022, Zillow generated $1.96 billion in revenue, an 8% decrease from the $2.13 billion generated in 2021.Zillow Group-owned Trulia is ranked third for real estate websites in the U.S., averaging 20.7 million monthly visitors in 2022.By visitor traffic, Zillow is the largest real estate website in the U.S., averaging 60 million monthly visitors in 2022.In this article, we will take a deeper look at Zillow’s business activities, interesting stats, and more: The company also earns revenue - to a much smaller degree - through ancillary real estate services. Second, it sells leads to service providers such as real estate agents and lenders, covering all of the United States (including luxury real estate markets like New York and Los Angeles) and parts of Canada. Founded in 2006, Zillow is a tech-driven real estate marketplace that generates revenue three ways.įirst, it sells advertising on its websites.
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