CoStar Group, Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - CoStar Group, Inc. (CSGP) announced a profit for first quarter that decreased from the same period last year.

The company's earnings totaled $72.79 million, or $1.98 per share. This compares with $85.17 million, or $2.33 per share, in last year's first quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $89.80 million or $2.44 per share for the period.

Analysts had expected the company to earn $2.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.3% to $391.85 million from $328.43 million last year.

CoStar Group, Inc. earnings at a glance:

-Earnings (Q1): $89.80 Mln. vs. $92.43 Mln. last year. -EPS (Q1): $2.44 vs. $2.53 last year. -Analysts Estimate: $2.27 -Revenue (Q1): $391.85 Mln vs. $328.43 Mln last year.

-Guidance: Next quarter EPS guidance: $2.02 - $2.12 Next quarter revenue guidance: $387 - $392 Mln