WASHINGTON (AP) _ CoStar Group Inc. (CSGP) on Tuesday reported first-quarter net income of $72.8 million.
The Washington-based company said it had profit of $1.98 per share. Earnings, adjusted for one-time gains and costs, were $2.44 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.28 per share.
The commercial real estate information and marketing provider posted revenue of $391.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $387.6 million.
For the current quarter ending in July, CoStar expects its per-share earnings to range from $2.02 to $2.12.
The company said it expects revenue in the range of $387 million to $392 million for the fiscal second quarter.
CoStar shares have risen roughly 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $607.84, an increase of 25% in the last 12 months.