Zillow’s new i-Buying business, Zillow Offers, brought in higher than expected revenue of $249 million in their 3rd quarter. Nevertheless, in after-market trading, Zillow’s stock was down 14%. A change in guidance, which lowered the company’s previous earnings outlook, appears to have unnerved some investors.
Zillow’s CEO, Tim Barton, was nevertheless upbeat noting that Zillow Offers is on track to realize $1 billion in annual revenue. He said, "We’re in rare growth air here”.