CoStar Group, Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - CoStar Group, Inc. (CSGP) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $96.4 million, or $0.24 per share. This compares with $124.4 million, or $0.31 per share, in last year's fourth quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $133.4 million or $0.33 per share for the period.

Analysts on average had expected the company to earn $0.32 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 $640.1 million from $573.3 million last year.

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

-Earnings (Q4): $96.4 Mln. vs. $124.4 Mln. last year. -EPS (Q4): $0.24 vs. $0.31 last year. -Analyst Estimates: $0.32 -Revenue (Q4): $640.1 Mln vs. $573.3 Mln last year.

-Guidance: Next quarter EPS guidance: $0.06 - $0.07 Next quarter revenue guidance: $645 - $650 Mln