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Zillow Revenue Rises 18% While Layoffs Drive a Loss and Restructuring

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Zillow’s second-quarter revenue rose 18% to $772 million and beat its forecast, but a $36 million restructuring charge tied to this week’s layoffs pushed it to a $4 million net loss. The Seattle-based company laid off more than 500 people, expects total restructuring costs of $59 million to $64 million, and expanded the CFO’s role while its COO steps down to focus on health.

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