CoStar Group, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - CoStar Group, Inc. (CSGP) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $89.32 million, or $0.23 per share. This compares with $74.21 million, or $0.19 per share, in last year's first quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $122.94 million or $0.31 per share for the period.

Analysts on average had expected the company to earn $0.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.7% to $515.83 million from $457.70 million last year.

CoStar Group, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $89.32 Mln. vs. $74.21 Mln. last year. -EPS (Q1): $0.23 vs. $0.19 last year. -Analyst Estimate: $0.27 -Revenue (Q1): $515.83 Mln vs. $457.70 Mln last year.

-Guidance: Next quarter EPS guidance: $0.20 - $0.21 Next quarter revenue guidance: $529 - $534 Mln Full year EPS guidance: $0.98 - $1.03 Full year revenue guidance: $2.15 - $2.17 Bln