CoStar Group Swings To Profit In Q1

(RTTNews) - CoStar Group, Inc. (CSGP), a provider of online real estate marketplaces, Tuesday reported first-quarter net income of $3 million or $0.01 per share, compared with a net loss of $15 million or a loss per share of $0.04 in the prior year period.

Adjusted net income rose to $94 million or $0.23 per share in the first quarter, compared to $63 million or $0.15 per share last year.

Revenue for the quarter was $897 million, up 23% over revenue of $732 million for the quarter ended March 31, 2025.

"CoStar Group produced $67 million in net new bookings in the first quarter of 2026, an increase of 20% year-over-year. We have delivered 60 consecutive quarters of consistent, double-digit revenue growth in a wide range of economic conditions," said Andy Florance, Founder and Chief Executive Officer of CoStar Group. "We continue to deliver on our goal of significant Adjusted EBITDA expansion in 2026 and beyond. Our strong 100% year-over-year growth in Adjusted EBITDA exceeded our expectations and was 26% higher than the midpoint of our guidance range."

The company reaffirms revenue in the range of $3.78 billion to $3.82 billion for the full year of 2026, representing revenue growth of approximately 17% year-over-year at the midpoint of the range.

The company expects revenue for the second quarter of 2026 in the range of $922 million to $932 million, representing revenue growth of approximately 19% year-over-year at the midpoint of the range.

The company now expects full-year 2026 adjusted earnings per share in a range of $1.32 to $1.39. For the second quarter of 2026, the company expects adjusted earnings per share in a range of $0.27 to $0.30.