CoStar: 4Q Earnings Snapshot

WASHINGTON (AP) _ CoStar Group Inc. (CSGP) on Tuesday reported fourth-quarter profit of $35.8 million.

On a per-share basis, the Washington-based company said it had profit of 91 cents. Earnings, adjusted for one-time gains and costs, came to $3.11 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share.

The commercial real estate information and marketing provider posted revenue of $444.4 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $433.8 million.

For the year, the company reported profit of $227.1 million, or $5.93 per share. Revenue was reported as $1.66 billion.

For the current quarter ending in April, CoStar expects its per-share earnings to range from $2.33 to $2.43.

The company said it expects revenue in the range of $450 million to $455 million for the fiscal first quarter.

CoStar expects full-year earnings in the range of $10.83 to $11.03 per share, with revenue ranging from $1.93 billion to $1.95 billion.

CoStar shares have fallen 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $866.98, a climb of 23% 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