Zillow revenue climbs 18% but layoff costs push company to a loss, amid executive changes

August 6, 2026 - 03:17

The layoffs, which were announced earlier this week, were part of a broader cost-cutting effort as the company navigates a slow housing market. Despite the revenue growth, Zillow's expenses tied to severance and related items outweighed the top-line gains.

Alongside the financial results, Zillow announced several executive changes. CFO Jeremy Hofmann will now also serve as chief operating officer, a move that gives him oversight of day-to-day operations in addition to his finance duties. The company also brought in a new chief legal and policy officer, hiring a veteran from Google's litigation team. This marks the first time Zillow has had an executive in that specific role, signaling a greater focus on regulatory and policy issues affecting the housing industry.

The company's revenue beat analyst expectations, driven by stronger performance in its residential and mortgage segments. However, the net loss and the leadership shake-up have left investors weighing the near-term costs against the long-term strategy. Zillow's stock moved slightly in after-hours trading following the announcement.