CoStar Group Sees Q2 Results In Line With View; Lifts FY Outlook

(RTTNews) - While announcing its first-quarter results, CoStar Group, Inc. (CSGP) said it expects non-GAAP net income per share to be in a range of $0.09 to $0.10 for the second quarter of 2024. Analysts polled by Thomson Reuters expect the company to report earnings of $0.09 per share for the second quarter. Analysts' estimates typically exclude special items.

The company expects revenue for the second quarter of 2024 to be in the range of $674 million to $679 million, representing revenue growth of approximately 12% year-over-year at the midpoint of the range. Analysts expect revenue of $682.23 million for the second quarter.

The company expects full year 2024 non-GAAP net income per share in a range of $0.58 to $0.62. Analysts expect annual earnings of $0.60 per share. The company said in February that it expected full year 2024 non-GAAP net income per share in a range of $0.57 to $0.60.

The company now projects revenue in the range of $2.76 billion to $2.77 billion for the full year of 2024, representing revenue growth of about 13% year-over-year at the midpoint of the range. Analysts expect revenue of $2.77 billion for fiscal year 2024. The company said in February that it expected annual revenue in the range of $2.75 billion to $2.77 billion.

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