Zillow Group Inc (NASDAQ:Z) reported first-quarter financial results after the market close on Wednesday. Here’s a rundown of the report.

• Q1 Revenue: $598 million, versus estimates of $586.54 million

• Q1 Adjusted EPS: 41 cents, versus estimates of 38 cents

Total revenue was up 13% year-over-year in the first quarter. The company noted that its quarterly revenue outperformed the residential real estate industry's year-over-year total transaction value growth.

Zillow ended the quarter with $1.6 billion in cash and cash equivalents after repurchasing $250 million worth of its common stock during the period.

"Our strong Q1 results surpassed our expectations and demonstrate how well we're executing. We are on track to meet our full-year 2025 goals, and we're well-positioned to deliver sustainable profitable growth," said Jeremy Wacksman, CEO of Zillow.

"As we expand our services and scale the housing super app across more markets, we are bringing more customers and real estate professionals together and making buying, selling, and renting easier for them, which is helping us grow both our revenue and profits."

Outlook: Zillow expects second-quarter revenue to be in the range of $635 million to $650 million versus estimates of $650.96 million, per Benzinga Pro.

Z Price Action: Zillow shares were down 5.42% after hours, trading at $64.20 at the time of publication on Wednesday, according to Benzinga Pro.

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