Zillow Stock Up 11% On Quarterly Results

Shares of Zillow Group, Inc. (Z) are gaining over 11% on Friday morning driven by its fourth-quarter results. Z is currently trading at $54.38, up $5.59 or 11.47%, on the Nasdaq.

Zillow’s fourth-quarter revenues surged to $3.88 billion from $788.95 million last year.

The company reported fourth-quarter net loss of $261.2 million or $1.03 per share, compared to net income of $46.0 million or $0.18 per share last year. On an adjusted basis, net loss for the quarter was $106.1 million or $0.42 per share, compared to $104.0 million or $0.41 per share last year.

Analysts polled by Thomson Reuters estimated a loss of $1.15 per share for the quarter.

Traffic to Zillow Group’s mobile apps and websites in fourth quarter was 198 million average monthly unique users, roughly flat year over year, which drove 2.3 billion visits during the same period, up 2% year over year.

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European Economics Preview: Germany Industrial Output Data Due

Industrial production from Germany and investor confidence from euro area are due on Monday, headlining a light day for the European economic news.

At 1.45 am ET, Swiss unemployment data is due for January. The jobless rate is forecast to rise marginally to 2.7 percent from 2.6 percent in December.

At 2.00 am ET, Destatis releases Germany’s industrial output data for December. Production is forecast to grow 0.4 percent on month, in contrast to the 0.2 percent fall in November.

In the meantime, UK Halifax house price data is due. Also, industrial production from Norway and foreign trade data from Finland are due.

At 3.00 am ET, the Czech Statistical Office publishes industrial production and foreign trade data. Economists forecast production to grow at a slower pace of 1.3 percent after rising 1.6 percent in November.

At 4.30 am ET, Eurozone Sentix investor confidence survey results are due. Economists forecast the investor sentiment index to rise to 15.2 in February from 14.9 in the previous month.

Apollo Global Management Q4 Distributable Profit Rises

Apollo Global Management, Inc. (APO) reported fourth quarter distributable earnings per share of $1.05 compared to $0.72 per share, last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.09, for the quarter. Analysts’ estimates typically exclude special items.

Net income to class A shareholders was $234.4 million or $0.91 per share compared to $424.9 million or $1.80 per share, last year. The company noted that expenses included recognition of a one-time non cash charge of $0.9 billion, for the quarter.

Total revenues was $1.20 billion compared to $1.30 billion, prior year. Total segment revenues increased to $1.02 billion from $715.85 million. Analysts on average had estimated $1.15 billion in revenue.

The company reported that total assets under management increased to $497.6 billion during the quarter, driven by growth of retirement services clients and strong third-party fundraising.

Apollo Global Management, Inc. has declared a cash dividend of $0.40 per share for the fourth quarter. The dividend will be paid on February 28, 2022 to holders of record at the close of business on February 18, 2022.

Apollo plans to distribute to its common stockholders an annual dividend of $1.60 per share of common stock, with increases based on growth of the business, as determined by the board.

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Ashok Leyland turned profit of ₹5.76 crore in Q3

CV sector on recovery path: Hinduja

Ashok Leyland Ltd. (ALL) posted standalone net profit of ₹5.76 crore for the third quarter ended December compared with net loss of ₹19 crore a year earlier. Revenue from operations grew 15% to ₹5,504 crore.

The results included profits from exceptional items of ₹42 crore (impairment in the value of equity investment in subsidiaries ₹4 crore, obligations relating to discontinued products of LCV divisions ₹91 lakh, VRS ₹25.22 crore and profit related to EV, ₹72.15 crore).

“The [commercial vehicle] industry is on a recovery owing to the improvement in the macroeconomic environment and healthy demand from the end-user industries,” said Dheeraj Hinduja, executive chairman. “The MHCV segment is expected to lead the recovery in the coming months riding on the back of growth in core sectors.”

“Higher volumes and cost management… have helped us improve our bottom line,” said Gopal Mahadevan, director and CFO.