How did Z's Q4 earnings surprise impact its annual performance?

Zillow Group's (Z) Q4 earnings surprise had a mixed impact on its annual performance:

1. **Positive Impact on Earnings**:
- Zillow reported a Q4 adjusted EPS of $0.27, which missed the consensus by $0.01. However, this still represents a positive earnings contribution for the year.
- The company's diluted EPS for Q4 was not provided, but the fact that it exceeded expectations with revenue and EBITDA beat expectations suggests a strong earnings performance for the quarter.

2. **Soft Outlook for Q1 2025**:
- Despite the strong Q4 performance, Zillow's shares tumbled as the company provided a soft revenue guidance for Q1 2025. This suggests that the positive momentum from Q4 may not carry over into the new year.
- The mixed outlook for Q1 could dampen investor confidence and affect the annual performance expectations for 2025.
3. **Overall Annual Performance**:
- Zillow's strong Q4 performance and the absence of Q5 EPS data suggest that Q4's earnings contribution was significant for the year.
- However, the soft outlook for Q1 2025 may offset some of the positive impact from Q4, depending on how the company performs in the upcoming quarters.
4. **Investor Sentiment**:
- Investors will be watching closely to see how Zillow executes in 2025, especially given the soft guidance for Q1.
- The company's ability to meet or exceed expectations in the coming quarters will be crucial in determining the overall annual performance and investor sentiment.

In conclusion, while Zillow's Q4 earnings surprise contributed positively to its annual performance, the soft outlook for Q1 2025 could mitigate the impact. The company's future performance and guidance will be key factors in determining the full-year outcome.