The Once & Future Zillow

Motley Fool Money

The Motley Fool

Business, Investing

4.4 • 3K Ratings

🗓️ 16 February 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

After spending a year getting rid of its iBuying business, how should investors regard Zillow Group?

(0:21) Jim Mueller discusses:
- How Zillow is (in some ways) at a fresh starting point
- The growing skepticism around iBuying as a profitable business
- 1 thing to watch when Redfin reports after the closing bell

(9:25) Ricky Mulvey and Sanmeet Deo discuss companies that are flying under Wall Street's radar, in part because of where they're located.

Companies discussed: ZG, OPEN, RDFN, LULU, TSCO, SHAK, WINA

Host: Chris Hill
Guests: Jim Mueller, Sanmeet Deo
Producer: Ricky Mulvey
Engineer: Rick Engdahl

Transcript

Click on a timestamp to play from that location

0:00.0	We've got two things in the spotlight today, housing and the middle of the United States.
0:10.4	Motifool money starts now.
0:12.4	I'm Chris Hell, joining me today, Motifool's Senior Analyst Jim Mueller.
0:18.9	Thanks for being here.
0:19.9	Thanks for having me, Chris.
0:22.7	Zillow shareholders got some good news.
0:24.5	Fourth quarter results were better than expected and shares of Zillow up a little bit today.
0:29.9	CEO Rich Barton acknowledged the obvious, which is that the housing market was difficult
0:35.2	last year, but that they got through it, they're focused on the future.
0:40.8	Nothing particularly revolutionary from the CEO, but I understand why he said the things
0:46.4	he said.
0:47.4	Definitely.
0:48.4	So at the end of 2021, they announced that they're getting out of their eye-buying business
0:53.7	and that was their big thing.
0:55.6	They were the high buyers.
0:59.2	They discovered that their algorithm wasn't working too well, was telling them, this
1:05.1	is a good price.
1:06.1	This is a good price.
1:07.1	They turned out not to be good prices to buy it.
1:10.6	So they got out and spent last year reinventing themselves, basically.
1:18.0	For the numbers, revenue was down, and these are full year numbers.
1:21.8	Revenue down 8% to 1.96 billion for the year.
	...

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