Zillow Group announced its pro forma and consolidated financial results for the quarter ended March 31, 2015. Pro forma revenue increased 35% to $162.5 million from $120.7 million in the first quarter of 2014.
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Pro forma revenue excluding Market Leader revenue increased 41% to $149.0 million from $105.5 million in the first quarter of 2014.
Pro forma basic and diluted net loss per share was $0.31 in the first quarter of 2015 compared to pro forma basic and diluted net loss per share of $0.42 in the same period last year.
Pro forma net loss was $17.9 million in the first quarter of 2015 compared to pro forma net loss of $23.8 million in the same period last year.
Pro forma Adjusted EBITDA was $24.5 million in the first quarter of 2015, or 15% of pro forma revenue, which was an increase from $12.1 million in the first quarter of 2014, or 10% of pro forma revenue.
Zillow Group's first quarter 2015 consolidated financial results include the results of Trulia's operations for the partial period from the acquisition date of February 17, 2015 to March 31, 2015. revenue was $127.3 million.
Basic and diluted GAAP net loss per share was $1.19 in the first quarter and includes the impact of $0.25 on basic and diluted GAAP net loss per share from acquisition-related costs and $0.51 on basic and diluted GAAP net loss per share from restructuring costs due to the company's February 2015 acquisition of Trulia and the related restructuring plan.
Basic and diluted non-GAAP net income per share was $0.04 and $0.05, respectively, in the first quarter, which excludes share-based compensation expense, acquisition-related costs and restructuring costs.
GAAP net loss was $58.4 million in the first quarter of 2015 and includes the impact of $12.5 million of acquisition-related costs and $25.1 million of restructuring costs due to the company's February 2015 acquisition of Trulia and the related restructuring plan.
Adjusted EBITDA was $16.7 million in the first quarter of 2015, or 13% of revenue. ■