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CoStar: 3Q Earnings Snapshot

WASHINGTON (AP) _ CoStar Group Inc. (CSGP) on Tuesday reported third-quarter earnings of $78.6 million.

On a per-share basis, the Washington-based company said it had profit of $2.15. Earnings, adjusted for one-time gains and costs, were $2.61 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.51 per share.

The commercial real estate information and marketing provider posted revenue of $352.8 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $353.2 million.

For the current quarter ending in December, CoStar expects its per-share earnings to range from $2.52 to $2.64.

The company said it expects revenue in the range of $360 million to $366 million for the fiscal fourth quarter.

CoStar expects full-year earnings in the range of $9.90 to $10.02 per share, with revenue expected to be $1.39 billion.

CoStar shares have risen 70% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $572.63, a climb of 49% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSGP at https://www.zacks.com/ap/CSGP