ZG - Zillow Group Inc. (Z) Q1 2024 Earnings Call Transcript

2024-05-01 21:01:09 ET

Zillow Group, Inc. (Z)

Q1 2024 Earnings Conference Call

May 1, 2024 05:00 PM ET

Company Participants

Bradley Berning - VP, Strategic Affairs & IR

Richard Barton - Co-Founder & CEO

Jeremy Wacksman - COO

Jeremy Hofmann - CFO

Conference Call Participants

Bradley Erickson - RBC

John Campbell - Stephens

Ronald Josey - Citigroup

Mark Mahaney - Evercore ISI

Ryan McKeveny - Zelman & Associates

Chris Kuntarich - UBS

Dae Lee - JP Morgan

Presentation

Operator

Good afternoon. My name is Elliot. I'll be your conference operator today. At this time, I would like to welcome everyone to the Zillow Group First Quarter 2024 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Please note this event is being recorded.

And I would now like to turn the conference over to Brad Berning, Vice President, Strategic Affairs & Investor Relations. Please go ahead.

Bradley Berning

Thank you. Good afternoon, and welcome to Zillow Group's first quarter 2024 conference call. Joining me today to discuss our results are Zillow Group's Co-Founder and CEO, Rich Barton; COO, 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 Rich.

Richard Barton

Thanks, Brad. Good afternoon, and good evening for those on the East Coast. Thanks for dialing-in to hear our first quarter 2024 results. We saw strong revenue numbers that flowed through to the bottom line, helping us outperform our outlook on revenue and EBITDA as we successfully execute on our growth strategy....

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