Zillow Group, Inc. (NASDAQ:Z) Morgan Stanley Technology, Media & Telecom Conference Call March 5, 2025 1:45 PM ET
Company Participants
Jeremy Hofmann – Chief Financial Officer
Conference Call Participants
Brian Nowak – Morgan Stanley
Brian Nowak
All right. Good morning, everyone. Welcome to our next fireside chat conversation here. We are very thrilled to have Jeremy Hofmann with us, the CFO of Zillow Group. Thanks for coming.
Jeremy Hofmann
Yeah, thanks for having me.
Brian Nowak
Good to see you.
Jeremy Hofmann
Good to see you, too.
Brian Nowak
Before we get started, I’m going to read the disclosures. Please note that all important disclosures, including personal holdings disclosures and Morgan Stanley disclosures appear on the Morgan Stanley public website at [www.morganstanley.com/researchdisclosures] (ph). They are also available at the registration desk.
Some of the statements made today by Zillow may be considered forward-looking. These statements involve a number of risks and uncertainties that could cause actual results to differ materially. Any forward-looking statements made today by the company are based on assumptions as of today, and Zillow undertakes no obligation to update them. Please refer to Zillow’s Form 10-K for a discussion of the risk factors that may impact actual results.
Jeremy Hofmann
Check. Nailed it.
Brian Nowak
Good to see you.
Jeremy Hofmann
Yeah, good to see you, too.
Brian Nowak
So far, so good.
Question-and-Answer Session
Q – Brian Nowak
Okay. So, there is a lot going on from a macro perspective with real estate. There’s a lot going on with Zillow specifically. So, maybe, let’s — I want to start bigger picture with you with some of the long-term targets that you’ve talked about. So, on the last conference call, you talked about a future year where you see 6 million existing home sales, the potential to generate $5 billion of revenue with really healthy profitability, 45%, maybe even higher percent, EBITDA margins. That’s
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