CoStar Group, Inc. Q2 Profit Increases, beats estimates

(RTTNews) - CoStar Group, Inc. (CSGP) revealed earnings 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 $101 million, or $0.25 per share. This compares with $83 million, or $0.21 per share, in last year's second quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $127 million or $0.31 per share for the period.

Analysts on average had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.1% to $606 million from $536 million last year.

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

-Earnings (Q2): $101 Mln. vs. $83 Mln. last year. -EPS (Q2): $0.25 vs. $0.21 last year. -Analyst Estimate: $0.30 -Revenue (Q2): $606 Mln vs. $536 Mln last year.

-Guidance: Full year EPS guidance: $1.24 to $1.26 Full year revenue guidance: $2.45 - $2.46 Bln