Zillow posts bigger loss as it spends more on advertising
May 7 (Reuters) - Zillow Inc posted a bigger quarterly loss as the real estate website operator spent more on advertising to attract more people to its site.
Zillow's net loss widened to $6.3 million, or 16 cents per share, in the first quarter ended March 31 from $3.7 million, or 11 cents per share, a year earlier.
Revenue jumped 70 percent to $66.2 million.
Zillow said in February that it would forego some profitability in the near-term to boost market share. (Reporting by Sampad Patnaik in Bangalore; Editing by Joyjeet Das and Saumyadeb Chakrabarty)
- Fired UPS worker kills two supervisors, self, in Alabama shooting
- Obama critic D'Souza spared prison for violating election law
- Bin Laden son-in-law sentenced to life in U.S. prison
- Australia police kill 'terror suspect' after two officers stabbed
- Islamic State blows away Gulf qualms about joining U.S. military action