Zillow predicts $8.5 billion in revenue for 2018, up 5% over 2017

Zillows Real Estate Inc. says its third-quarter profit will top $8 billion, despite a major slowdown in sales of rental properties.CEO and president Doug Lien says he expects to generate revenue of $2.6 billion for the year and $3.5bn in 2019, up from $2 billion in 2018.

The company, which owns listings on more than 50,000 sites, expects to see its full-year revenue in 2019 more than double from 2017.

The stock rose 3.6 per cent to $10.35 on Monday.