Z
illow's momentum continued to build in Q4, with revenue soaring 17% year-over-year to $554 million. The company's "super app" played a key role in driving growth, as 21% of customers now use its bundled services, which include mortgage and rental offerings. CEO Jeremy Wacksman aims to reach 35% adoption by the end of 2025.

    Mortgage revenue was a standout performer, surging 86% year-over-year to $41 million, driven by the company's bundling of mortgage services within the consumer app. Loan originations also jumped 90% in Q4, despite elevated mortgage rates dampening overall loan volume.

    Rental revenue saw significant growth as well, increasing 25% year-over-year to $116 million, fueled by multifamily listings. Zillow's partnership with Redfin will further expand its rental offerings, making it the exclusive provider of multifamily listings on Redfin and its sites Rent.com and ApartmentGuide.com.

    Despite the strong financials, Zillow's stock dipped over 6% in after-hours trading. Wacksman acknowledged that the real estate market will remain challenging in 2025, with elevated mortgage rates expected to persist through the first half of the year. However, he expressed optimism about the company's ability to educate buyers and connect them with top agents.

    Key statistics:

    * Revenue: $554 million (up 17% YoY), $2.2 billion for the full year (up 15% YoY)

    * Cash and investments: $1.9 billion

    * Adjusted EBITDA: $112 million in Q4, representing 20% of total revenue

    * Net income/loss: A net loss of $52 million in Q4, improving from a $73 million loss in the same period last year

    * Traffic and visits: 204 million average monthly unique users (up 3% YoY), 2.4 billion total visits (also up 3% YoY)