CoStar Group, Inc. Q2 Profit Decreases, But Beats Estimates

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

The company's earnings came in at $19 million, or $0.05 per share. This compares with $101 million, or $0.25 per share, in last year's second quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $61 million or $0.15 per share for the period.

Analysts on average had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.9% to $678 million from $606 million last year.

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

-Earnings (Q2): $19 Mln. vs. $101 Mln. last year. -EPS (Q2): $0.05 vs. $0.25 last year. -Revenue (Q2): $678 Mln vs. $606 Mln last year.

-Guidance: Next quarter EPS guidance: $0.15-$0.16 Next quarter revenue guidance: $692-$697 Million Full year EPS guidance: $0.64-$0.66 Full year revenue guidance: $2.735-$2.745 Bln