Zillow Group Inc. ZG, +1.29% shares plummeted 19% in the extended session Monday after the company reported earnings and announced the acquisition of a mortgage lender. The company reported second-quarter net losses of $3.1 million, or 2 cents a share, compared with losses of $21.8 million, or 12 cents a share, in the year-ago period. Adjusted for items such as share-based compensation, earnings were 13 cents a share compared with 4 cents in the year-ago quarter. Revenue rose to $325.3 million from $266.9 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 9 cents a share on revenue of $326 million. For the third quarter, analysts model adjusted earnings of 23 cents a share on sales of $408 million. The company said it expects revenue of $337 million to $347 million. Zillow shares closed up 1.3% to $59 during regular trading, as the S&P 500 index SPX, +0.35% closed up 0.4%.
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