Nov 5 Real estate website Zillow Inc
forecast fourth-quarter revenue below analysts' estimates,
sending its shares down 23 percent in after-market trading.
The company, which provides housing price appraisals called
"Zestimates," expects fourth-quarter revenue of $30 million to
$31 million. Analysts were looking for revenue of $32.5 million,
according to Thomson Reuters I/B/E/S.
Zillow reported a net income of $2.3 million, or 7 cents per
share, in the third quarter, compared with a loss of $570,000,
or 2 cents per share, a year earlier.
The company also said it would buy mortgage technology
company Mortech Inc for $12 million in cash.