Segment Information and Revenue (Tables)

6 Months Ended

Jun. 30, 2020

This information is included in the following tables for the periods presented (in thousands):


	Three Months Ended June 30, 2020										Three Months Ended June 30, 2019
	Homes		IMT		Mortgages		Homes		IMT		Mortgages
Revenue:
Zillow Offers	$	453,816	$	—	$	—	$	248,924	$	—	$	—
Premier Agent	—		191,962		—		—		231,961		—
Other	436		88,377		—		—		91,708		—
Mortgages	—		—		33,761		—		—		26,985
Total revenue	454,252		280,339		33,761		248,924		323,669		26,985
Costs and expenses:
Cost of revenue	431,788		23,387		5,896		240,732		26,059		4,430
Sales and marketing	47,877		96,026		11,695		37,409		135,440		14,584
Technology and development	28,918		93,176		6,763		18,198		94,261		7,871
General and administrative	21,902		53,884		9,725		17,808		54,671		10,360
Integration costs	—		—		—		—		—		293
Total costs and expenses	530,485		266,473		34,079		314,147		310,431		37,538
Income (loss) from operations	(76,233)		13,866		(318)		(65,223)		13,238		(10,553)
Segment other income	—		5,300		385		—		—		402
Segment interest expense	(3,825)		—		(307)		(5,899)		—		(287)
Income (loss) before income taxes (1)	$	(80,058)	$	19,166	$	(240)	$	(71,122)	$	13,238	$	(10,438)


	Six Months Ended June 30, 2020										Six Months Ended June 30, 2019
	Homes		IMT		Mortgages		Homes		IMT		Mortgages
Revenue:
Zillow Offers	$	1,222,928	$	—	$	—	$	377,396	$	—	$	—
Premier Agent	—		434,068		—		—		449,696		—
Other	1,197		176,937		—		—		172,245		—
Mortgages	—		—		59,043		—		—		54,345
Total revenue	1,224,125		611,005		59,043		377,396		621,941		54,345
Costs and expenses:
Cost of revenue	1,163,987		47,705		11,051		363,151		50,310		9,108
Sales and marketing	119,466		216,199		24,581		58,271		262,094		28,655
Technology and development	61,456		188,204		14,115		30,479		182,230		15,391
General and administrative	45,323		112,638		19,835		32,165		125,521		20,927
Impairment costs	—		73,900		2,900		—		—		—
Integration costs	—		—		—		—		—		645
Total costs and expenses	1,390,232		638,646		72,482		484,066		620,155		74,726
Income (loss) from operations	(166,107)		(27,641)		(13,439)		(106,670)		1,786		(20,381)
Segment other income	—		5,300		587		—		—		715
Segment interest expense	(11,909)		—		(533)		(9,657)		—		(388)
Income (loss) before income taxes (1)	$	(178,016)	$	(22,341)	$	(13,385)	$	(116,327)	$	1,786	$	(20,054)

(1) The following table presents the reconciliation of total segment loss before income taxes to consolidated loss before income taxes for the periods presented (in thousands, unaudited):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Total segment loss before income taxes	$	(61,132)	$	(68,322)	$	(213,742)	$	(134,595)
Corporate interest expense	(33,458)		(12,711)		(62,740)		(25,318)
Corporate other income	4,430		9,056		13,821		17,911
Gain on partial extinguishment of 2021 Notes	6,391		—		6,391		—
Consolidated loss before income taxes	$	(83,769)	$	(71,977)	$	(256,270)	$	(142,002)

Reconciliation of Segment Gross Profit and Loss

The following table presents the reconciliation of total segment loss before income taxes to consolidated loss before income taxes for the periods presented (in thousands, unaudited):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Total segment loss before income taxes	$	(61,132)	$	(68,322)	$	(213,742)	$	(134,595)
Corporate interest expense	(33,458)		(12,711)		(62,740)		(25,318)
Corporate other income	4,430		9,056		13,821		17,911
Gain on partial extinguishment of 2021 Notes	6,391		—		6,391		—
Consolidated loss before income taxes	$	(83,769)	$	(71,977)	$	(256,270)	$	(142,002)