Courtesy of Benzinga.
After falling almost 5.3 percent on more than double the average daily volume during normal market hours, shares of Zillow (NYSE: Z) are off 23 percent in Monday’s after-hours session after the provider of online real estate data issued weak fourth-quarter guidance.
The company forecast revenue for the current quarter of $30-31 million, below the $32.9 million analysts are expecting. Zillow forecast full-year revenue of $113 million, below the consensus estimate of $114.8 million.
Zillow posted a third-quarter profit of seven cents per share on revenue of $31.9 million. Analysts expected a profit of seven cents a share on revenue of $31.7 million. Including Monday’s loss during regular trading hours, shares of Zillow were up 0.3 percent since the company’s late July IPO.
