CoStar Group, Inc. Q2 Profit Increases, beats estimates

(RTTNews) - CoStar Group, Inc. (CSGP) released a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $83 million, or $0.21 per share. This compares with $61 million, or $0.16 per share, in last year's second quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $112 million or $0.28 per share for the period.

Analysts on average had expected the company to earn $0.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.7% to $536 million from $480 million last year.

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

-Earnings (Q2): $83 Mln. vs. $61 Mln. last year. -EPS (Q2): $0.21 vs. $0.16 last year. -Analyst Estimate: $0.21 -Revenue (Q2): $536 Mln vs. $480 Mln last year.

-Guidance: Next quarter EPS guidance: $0.23-$0.25 Next quarter revenue guidance: $552-557 Mln Full year EPS guidance: $1.09-$1.13 Full year revenue guidance: $2.16-$2.2.18 Bln