Filing Flows › Zillow Group (ZG) › Q2 2026 › vs Q1 2026
Zillow Group (ZG) Q2 2026 vs Q1 2026 (quarter over quarter)
Zillow Group's revenue rose $64.0M (+9%) from $708M in Q1 2026 to $772M in Q2 2026. The biggest changes: Sales Revenue +$35.0M (+7%); Rentals +$26.0M (+14%); Other +$3.0M (+27%).
Zillow Group, Q2 2026: revenue $772M (+18% year over year), operating margin -1.3%, net loss $4.0M, operating cash flow $11.0M. The chart draws each line against Q1 2026, the increases inside each band.
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Residential | $465M | $450M | $15.0M | +3% |
| Mortgages | $84.0M | $64.0M | $20.0M | +31% |
| Sales Revenue | $549M | $514M | $35.0M | +7% |
| Rentals | $209M | $183M | $26.0M | +14% |
| Other | $14.0M | $11.0M | $3.0M | +27% |
| Revenue | $772M | $708M | $64.0M | +9% |
| Other income, net | $7.0M | $12.0M | −$5.0M | -42% |
| Net loss | $4.0M | −$46.0M | $50.0M | — |
| Costs & expenses | $783M | $720M | $63.0M | +9% |
| Operating costs | $782M | $672M | $110M | +16% |
| Income tax | $1.0M | $2.0M | −$1.0M | -50% |
| Cost of revenue | $210M | $189M | $21.0M | +11% |
| Research & development | $156M | $150M | $6.0M | +4% |
| Sales & marketing | $249M | $210M | $39.0M | +19% |
| General & admin | $131M | $123M | $8.0M | +7% |
| Operating cash sources | $153M | $146M | $7.0M | +5% |
| Depreciation & amortization | $65.0M | $65.0M | $0 | 0% |
| Share-based compensation | $88.0M | $81.0M | $7.0M | +9% |
| Net loss absorbed | $4.0M | −$46.0M | $50.0M | — |
| Working capital & other | $138M | −$8.0M | $146M | — |
| Operating cash flow | $11.0M | $200M | −$189M | -94% |
| Capital expenditures | $36.0M | $34.0M | $2.0M | +6% |
| Negative free cash flow (OCF − capex) | $25.0M | −$166M | $191M | — |
Questions
How much did Zillow Group's revenue grow quarter over quarter in Q2 2026?
Zillow Group's revenue rose $64.0M (+9%) from $708M in Q1 2026 to $772M in Q2 2026.
What drove Zillow Group's revenue change in Q2 2026?
Sales Revenue +$35.0M (+7%); Rentals +$26.0M (+14%); Other +$3.0M (+27%).