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CoStar: 3Q Earnings Snapshot

·1 min read

WASHINGTON (AP) _ CoStar Group Inc. (CSGP) on Tuesday reported third-quarter net income of $58.2 million.

The Washington-based company said it had net income of $1.48 per share. Earnings, adjusted for one-time gains and costs, were $2.26 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.

The commercial real estate information and marketing provider posted revenue of $425.6 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $417.1 million.

CoStar expects full-year earnings in the range of $9.39 to $9.49 per share, with revenue in the range of $1.64 billion to $1.65 billion.

CoStar shares have climbed 39% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $828.88, a climb of 49% in the last 12 months.

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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