Zillow Group Inc - C (NASDAQ:Z) reported its fourth-quarter and full-year 2025 financial results on February 10, 2026. The company's performance for the final quarter of the year presented a mixed picture, with revenue falling short of Wall Street's expectations while profitability, as measured by adjusted earnings per share, also came in below consensus estimates. The immediate market reaction was decisively negative, with the stock trading down sharply in after-hours activity.
Quarterly Performance Versus Estimates
The core figures from Zillow's Q4 2025 report reveal a dual miss against analyst forecasts. The market's focus on these key metrics is a primary driver behind the post-earnings stock movement.
- Revenue: The company reported quarterly revenue of $654 million. This fell short of the analyst consensus estimate of approximately $663.5 million.
- Earnings Per Share (Non-GAAP): Zillow posted adjusted earnings per share of $0.39 for the quarter. This was below the estimated EPS of $0.41.
The revenue miss, though not drastic, suggests the company's top-line growth may be facing headwinds or is progressing at a pace slower than anticipated. The slight shortfall in EPS indicates that operational efficiency or cost management in the quarter did not fully offset the revenue disappointment.
Market Reaction and Recent Trading
The financial markets delivered a clear verdict on Zillow's quarterly results. Following the earnings release, the stock experienced significant selling pressure in after-market trading, declining over 5%. This sharp drop indicates investor disappointment and a reassessment of the company's near-term trajectory based on the reported figures. This negative reaction compounds existing weakness, as the stock has trended downward over the past month, showing a decline of nearly 20% in that period.
Looking Ahead: Analyst Expectations for 2026
While the Q4 2025 results were underwhelming, analyst projections for the coming year provide a forward-looking benchmark. The company's own outlook, if provided in the press release, would be measured against these consensus figures to gauge whether management's guidance is conservative or optimistic. The current analyst estimates for Zillow are as follows:
- Q1 2026: Revenue is projected to be approximately $705.6 million, with an EPS estimate of $0.49.
- Full-Year 2026: For the entire year, analysts are forecasting revenue to reach about $3.01 billion and earnings per share of $2.25.
Investors will be keen to see if Zillow's strategic initiatives in its integrated housing "super app" ecosystem—encompassing listings, agent services, mortgages, and rental platforms—can accelerate growth to meet or exceed these 2026 expectations.
Press Release Summary
The announced financial results for both the fourth quarter and the full 2025 fiscal year represent the most critical information from the release. The report underscores Zillow's ongoing transformation into a comprehensive real estate transaction platform, highlighting its suite of brands and services including Zillow, Trulia, StreetEasy, Zillow Home Loans, and its software solutions for real estate professionals like ShowingTime+ and Follow Up Boss. The core narrative remains the company's focus on creating a connected experience for consumers and professionals across the entire residential real estate lifecycle.
For a detailed breakdown of historical earnings, future estimates, and analyst projections, you can review the data here: Zillow Group (Z) Earnings & Estimates.
Disclaimer: This article is for informational purposes only and does not constitute financial advice, a recommendation, or an endorsement of any security or investment strategy. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
