Zillow Q1 Earnings Beat, Q2 Guidance Miss

Zillow reported Q1 adjusted EPS of $0.53 beating $0.45 estimate and revenue of $708 million, up 18% YoY.
Net income rose to $46 million ($0.19 per share) from $8 million a year earlier, while adjusted EBITDA held at $182 million (26% margin).
Zillow guided Q2 revenue $750‑765 million, midpoint $757.5 million, below analyst consensus $760.9 million, prompting a 7.8% share drop.
Rentals revenue jumped 42% to $183 million, mortgages revenue rose 56% to $64 million, and the company repurchased 13.5 million shares for $626 million.