Zillow Reports Record First Quarter Results

Today, Zillow announced results for first quarter 2012. Q1 was another excellent quarter for Zillow, breaking records in revenue, profitability and traffic across mobile and Web.

You can read the full press release in the Investor Relations section of our site, but here are a few highlights:

  • Record revenue of $22.8 million, up 103% year-over-year, marking the sixth consecutive quarter of triple-digit, year-over-year revenue growth.
  • Record Marketplace Revenue of $16.6 million, up 141% year-over-year.
  • Record usage across mobile and Web, as homes viewed on mobile devices eclipsed the Web for the first time. In March, 155 million homes were viewed on Zillow via a mobile device – that’s 57 homes per second.
  • Today, we also announced our acquisition of RentJuice, a leading provider of rental relationship management software for landlords, property managers and rental brokers. Based in San Francisco, the company has been building some really innovative products to connect prospective renters and rental professionals in real time. You can read more about the acquisition in our RentJuice press release and blog post.

I’d like to thank our employees, users and professional partners for their active role in helping us to achieve this rapid growth and simply excellent quarter.

Zillow CFO Chad Cohen and I are hosting our first quarter conference call at 2 p.m. PDT/5 p.m. EDT today and you’re invited to listen in. A link to the webcast is located in the Investor Relations section of the Zillow website and a replay also will be available after the call.