CoStar Group Turns To Profit In Q2 - Quick Facts

(RTTNews) - CoStar Group Inc. (CSGP) reported second-quarter net income of $8.29 million or $0.29 per share, compared to a loss of $6.71 million or $0.25 per share, last year. Non-GAAP net income rose to $17.25 million or $0.61 per share, from $10.46 million or $0.39 per share, last year.

On average, nine analysts polled by Thomson Reuters expected the company to report profit of $0.52 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue climbed to $109.0 million, from $85.2 million in the second quarter of 2012, which represents an increase of 28% year-over-year. Analysts expected revenue of $106.36 million for the quarter.

For the third quarter of 2013, CoStar Group expects revenue in the range of approximately $110 million to $112 million. The company currently expects third-quarter non-GAAP net income per share in the range of approximately $0.61 to $0.63. Analysts expect the company to report third-quarter profit per share of $0.58 on revenue of $108.78 million.

For the full year of 2013, the company currently expects non-GAAP net income per share in a range of approximately $2.31 to $2.36. The company expects revenue of approximately $434 million to $438 million for the full year 2013. Analysts expect the company to report full year 2013 profit per share of $2.19 on revenue of $431.58 million.