Zillow Reports Record Traffic, Revenues and Net Income in Q2

Today Zillow announced our second quarter results in our first earnings report as a public company.

In short, it was an outstanding quarter for Zillow with record traffic, mobile usage, revenues and profitability. You can view the entire press release, but here are a few highlights:

• Record Revenues of $15.8 million, up 116% year-over-year.
• Record Marketplace Revenues of $9.7 million, up 269% year-over-year.
• Net Income of $1.6 million, marking first quarter of GAAP profitability and the fourth consecutive profitable quarter on an Adjusted EBITDA basis.
• Record traffic: average monthly unique users grew 93% year-over-year to a record 20.8 million in the second quarter of 2011. July 2011 marked another record month with 23.2 million unique users to Zillow’s websites and mobile applications, a 98% increase from July 2010.
• Record mobile usage: Zillow was used on a mobile device 11.9 million times in July 2011, with 28 homes viewed every second.

We know our growth and success are very dependent on our users, customers and Zillow community, and I thank you for your continued support.

Please review the press release located in the investor section of Zillow.com for full details including a GAAP and non-GAAP reconciliation. We are also hosting our second quarter conference call at 2 p.m. PDT/5 p.m. EDT today and you’re invited to listen in (a replay will also be available). I will be joined by Zillow CFO Chad Cohen. A link to the webcast is also located in the Investor section.