Zillow Revenue More than Doubles

Zillow Group Inc. said Tuesday that its revenue more than doubled in the second quarter, boosted by a 74% increase in unique users and its acquisition of rival real-estate website Trulia.

Shares of Zillow rose 7.8% to $80.01 a share in after-hours trading.

For the quarter ended June 30, the company posted a loss of $38.7 million, or 66 cents a share, wider than its year-ago loss of $10.5 million, or 26 cents a share.

Loss excluding items related to acquisition-related costs and others was 1 cent a share, up from a loss of 5 cents a share a year earlier.

Zillow's revenue rose to $171.3 million from $78.7 million.

Analysts polled by Thomson Reuters had projected a loss of 26 cents a share on revenue of $168.69 million.

Average monthly unique users in the second quarter increased 74% to 140.6 million from 81.1 million. Zillow measures unique users with Google Analytics and Trulia measures unique users with Omniture analytical tools.

Earlier this year, Zillow closed a $2.5 billion stock-swap deal for onetime competitor Trulia in February. While the companies' similarity was expected to lead to a relatively smooth merger, the integration has required adjustments. One such change was reducing Trulia's reliance on banner advertisements, a move intended to improve the site and attract more users in the long term, but one that hurt revenue in the short term.

Zillow said Tuesday that it is on track to complete its integration of Trulia by the third quarter. News Corp., the parent company of The Wall Street Journal, owns Zillow competitor Move Inc.

On a pro forma basis, assuming the inclusion of Trulia results for both periods, the company had per-share loss of 46 cents a share in the latest quarter, narrower than its loss of 52 cents a year earlier. Revenue on that same basis increased to $171.3 million from $142.8 million.

Separately on Monday, the company promoted its chief operating officer, Kathleen Philips, to chief financial officer. Ms. Philips replaces Chad M. Cohen, who was leaving "to pursue other business interests," Zillow said in a previous release. His resignation was expected to be effective Aug. 7.

Write to Cassandra Jaramillo at [e-mail]

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