=Zillow (Z) reported earnings on Mon 7 May 2018 (a/h)

Zillow beats by $0.01, reports revs in-line; guides Q2 revs below consensus; reaffirms FY18 guidance; CFO retires 

• Reports Q1 (Mar) earnings of $0.07 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.06; revenues rose 22.0% year/year to $299.9 mln vs the $298.72 mln Capital IQ Consensus; EBITDA $46.3 mln. The number of Premier Agent accounts, including accounts of brokerages and other teams, spending more than $5,000 per month grew by 58% year-over-year and increased 58% on a total dollar basis.
• Preannounced April 12: Raised Q1 EBITDA guidance to $45-47 mln from $42-47 mln; raised Q1 revenue guidance to $299-301 mln from $291-296 mln.
  Raised FY18 revenue guidance to $1.43-1.58 bln from $1.30-1.32 billion and lowered FY18 EBITDA guidance to $260-285 mln from $300-315 mln.
• The number of Premier Agent accounts, including accounts of brokerages and other teams, spending more than $5,000 per month grew by 58% year-over-year and increased 58% on a total dollar basis.
• Co issues downside guidance for Q2, sees Q2 revs of $322-327 mln vs. $347.21 mln Capital IQ Consensus Estimate; EBITDA $49-57 mln.
• Co reaffirms guidance for FY18, sees FY18 revs of $1.43-1.58 bln vs. $1.44 bln Capital IQ Consensus Estimate; EBITDA $260-285 mln
• Chief Financial Officer and Chief Legal Officer Kathleen Philips is retiring from her role as CFO effective May 31, 2018. Jennifer Rock, Zillow Group's vice president of financial reporting, technical accounting and FP&A, will serve as interim CFO while the company engages an executive recruiting firm to search for a new CFO. Kathleen will step down as CFO and continue to serve as chief legal officer through the end of 2018 and transition toward retirement in 2020.