CoStar Beats Adjusted Q2 Earnings Estimates

RTTNews July 28, 2020

(RTTNews) – CoStar Group, Inc. (CSGP) announced earnings for second quarter that decreased from the same period last year.

The company’s profit came in at $60.36 million, or $1.60 per share. This compares with $63.25 million, or $1.73 per share, in last year’s second quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $88.35 million or $2.34 per share for the period.

Analysts had expected the company to earn $2.00 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 15.5% to $397.16 million from $343.76 million last year.

CoStar Group, Inc. earnings at a glance:

-Earnings (Q2): $88.35 Mln. vs. $81.53 Mln. last year. -EPS (Q2): $2.34 vs. $2.23 last year. -Analysts Estimate: $2.00 -Revenue (Q2): $397.16 Mln vs. $343.76 Mln last year.

-Guidance: Next quarter EPS guidance: $2.00 – $2.10 Next quarter revenue guidance: $415 – $420 Mln Full year EPS guidance: $9.22 – $9.42 Full year revenue guidance: $1.63 – $1.64 Bln