Zillow says its ‘Housing Super App’ strategy is working

“Our strong results and consistent execution demonstrate the durability of our strategy. Zillow is the operating system for modern real estate: AI-native, at the core of the transaction, empowering both consumers and professionals from end to end,” Zillow CEO Jeremy Wacksman and CFO and newly appointed COO Jeremy Hofmann wrote in a letter to shareholders regarding their firm’s second quarter 2026 financial results, published on Wednesday. During Q2 2026, Zillow generated $772 million in revenue, up 18% year-over-year. The company’s for-sale segment generated $549 million in revenue, up 14% annually, while its residential segment was up 7% to $465 million, its mortgage revenue rose 75% to $84 million and its rentals segment recorded a 31% yearly increase in revenue to $209 million. Despite these increases, the company reported a net loss of $4 million for the quarter, down from a net income of $2 million a year ago. However, for the six months ending June 30, 2026, Zillow has recorded $42 million in net income, compared to $10 million a year ago. Revenue growth across the board Zillow attributed much of the growth of its rentals revenue to a 23% annual increase in the number of mult...