Zeus ultimately defeats the Hulk in the specific encounter referenced.
While the Hulk initially lands a powerful blow that sends Zeus crashing, Zeus retaliates with even greater force. The battle escalates, and the ruler of Olympus eventually overpowers the Hulk, knocking him off Mount Olympus, thus winning the direct confrontation. It is important to consider that the outcome of such battles often depends on the specific comic book storylines, writers, and the power levels depicted at that time. Character power levels fluctuate, and different versions of both Hulk and Zeus exist across the Marvel Multiverse. This specific encounter, however, ends with Zeus as the victor.