Zillow Group (Z) shares jumped as the real estate services company reported better-than-expected results for the second quarter and🐟 named a new chief executive off🐎icer.

The company posted a second-quarter loss of $0.07, less than half of what it was a year ago and just one-third of the average estimate of analysts surveyed by Visible Alpha. Revenue was up 13% to $572 million, also beating forecasts.

Residential revenue increased 8% to $409 million, as the company improved connections between high-intent customers and its Premier Agent partners. Rentals revenue gained 29% to $117 million, primarily driven by a 44% increase in multi-family revenue. Mortgages revenue grew 42% to $34 million as purchase loan origination volume soared.

Zillow’s mobile apps and sites had 231 million average monthly unique users, little changed from 2023, although visits rose 4% to 2.5 billi♍on.

Along with the earnings news, the company said COO Jeremy Wacksman has taken over as CEO, replacing Zillow co-founder Rich Barton. Barton will be Co-Executive Chair with fellow co-founder Lloyd Frink.

Zillow shares were up 20% in late trading Thursday. Despite the gain, the stock is still down 14% since the begging of the year.