Aug 7 (Reuters) - Online real estate broker Zillow ( ZG )

on Wednesday named insider Jeremy Wacksman as its chief

executive officer, succeeding co-founder Rich Barton, who would

become the co-executive chair.

Shares of the company jumped 11.5% in extended trading,

after it also beat analysts' estimates for second-quarter profit

and revenue.

Wacksman, a former Microsoft executive, joined Zillow ( ZG ) in

2009 and had held product, marketing and operational

responsibilities. He was most recently the company's chief

operating officer.

Zillow ( ZG ) said Barton would remain on the board of directors

and become co-executive chair alongside co-founder and current

executive chair Lloyd Frink.

"I will remain engaged as my role shifts to counseling

Jeremy and the leadership team, rather than daily operational

leadership," Barton said in a letter to shareholders.

"We organized most of the company around Jeremy three years

ago when we promoted him to chief operating officer," Barton

added.

Also in the day, the Seattle-based company posted

better-than-expected quarterly results as residential and rental

revenue rose.

Its second-quarter adjusted profit of 39 cents per share

beat LSEG estimates of 27 cents per share.

Total revenue for the quarter ended June 30 was $572

million, up 13% from a year earlier. Analysts on average were

expecting $538.25 million.

Zillow ( ZG ) also forecast its third-quarter revenue to be between

$545 million and $560 million, the midpoint of which is roughly

in line with analysts' estimate.