Zillow Group, Inc. (NASDAQ:Z) Q3 2024 Earnings Conference Call November 6, 2024 5:00 PM ET
Company Participants
Bradley Berning - VP, Strategic Affairs & IR
Richard Barton - Co-Founder & CEO
Jeremy Wacksman - COO
Jeremy Hofmann - CFO
Conference Call Participants
John Colantuoni - Jefferies
Bradley Erickson - RBC
Ronald Josey - Citigroup
Mark Mahaney - Evercore ISI
Nicholas Jones - Citizens JMP
Chris Kuntarich - UBS
Michael Ng - Goldman Sachs
John Campbell - Stephens
Ryan McKeveny - Zelman & Associates
Operator
Hello, and welcome to Zillow's Third Quarter 2024 Financial Results Call. We ask that you please hold all questions until the completion of the formal remarks, at which time you will be given instructions for the question-and-answer session. Also, as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time.
Bradley Berning
Brad, you may begin. Thank you. Good afternoon, and welcome to Zillow Group's Third Quarter 2024 call. Joining me today to discuss our results are Zillow Group's CEO, Jeremy Wacksman; and CFO, Jeremy Hofmann.
During today's call, we will make forward-looking statements about our future performance and operating plans based on current expectations and assumptions. These statements are subject to risks and uncertainties, and we encourage you to consider the risk factors described in our SEC filings for additional information.
We undertake no obligation to update these statements as a result of new information or future events except as required by law. This call is being broadcast on the Internet and is accessible on our Investor Relations website. A recording of the call will be available later today. During the call, we will discuss GAAP and non-GAAP measures, including adjusted EBITDA, which we refer to as EBITDA.
We encourage you to read our shareholder letter and earnings release, which can be found on our Investor Relations website as they contain important information about our GAAP and non-GAAP results, including reconciliations of historical non-GAAP financial measures. We will now open the call with remarks followed by live Q&A. And with that, I will turn the call over to Jeremy Wacksman.
Jeremy Wacksman
Thank you, Brad, and good afternoon, everyone. Thank you for joining us during a busy time of year. We're excited to share our third quarter 2024 results with you. With Zillow's leading brand, deep technology expertise, and strong financial foundation, we are successfully seizing our incredible opportunity to transform and digitize residential real estate on behalf of consumers, agents, and the broader industry. As you will hear again today, we are in a strong position executing our strategy well and delivering solid results. In Q3, we grew revenue by 17% and outperformed the residential real estate industry, all while demonstrating cost discipline as we steer towards sustainable, profitable growth.