Zillow Group Inc. shares plunged 24.5 percent on Wednesday after the company reported an unexpected third-quarter loss and said it will be winding down its home-buying business.
Zillow reported a third-quarter adjusted earnings per share (EPS) loss of 95 cents on revenue of $1.74 billion. Both numbers missed consensus analyst estimates of a 16-cent profit and $2.01 billion, respectively.
