CoStar Group Beats Earnings Expectations in Q4
WASHINGTON, Feb. 14, 2023 – CoStar Group Inc. (CSGP) today reported its fourth-quarter financial results, surpassing Wall Street forecasts.
Financial Highlights:
* Revenue: $709.4 million (above analyst estimates of $701 million)
* Net Income: $59.8 million
* Diluted Earnings Per Share: $0.15
* Adjusted Earnings Per Share: $0.26 (above analyst estimates of $0.22)
Analysts had expected earnings of $0.22 per share on revenue of $701 million.
Annual Results:
* Revenue: $2.74 billion
* Net Income: $138.7 million
* Diluted Earnings Per Share: $0.34
Guidance:
* Q1 2023 Revenue: $711 million - $716 million
* Full-Year 2023 Revenue: $2.99 billion - $3.02 billion
CoStar provides commercial real estate information and marketing services. The company's strong financial performance was driven by continued growth in its core businesses.