said on Thursday that it lost $881 million on its algorithmic-driven home-flipping business last year in its first earnings report since the real-estate company shut down that operation in the fall.
The full company, which includes Zillow’s profitable home-listing and advertising business, posted a consolidated net loss of $528 million in 2021, mostly because of its home-flipping business, Zillow Offers.
The flipping outfit had been responsible for the majority of Zillow’s revenue in recent years but none of its profits.
The company shocked the market in November by announcing it was closing Zillow Offers because the tech-powered platform failed to accurately predict movements in home prices.
Zillow also cut…
