FX.co ★ CoStar Group Sees Q2 Results In Line With View; Lifts FY Outlook

CoStar Group, Inc. announced its Q1 results and projected that the non-GAAP net income per share for Q2 2024 would fall between $0.09 and $0.10. These figures are in alignment with the current earnings forecast by analysts at Thomson Reuters, who have excluded special factors in their estimates.

CoStar's revenue projection for Q2 2024 stands between $674 million and $679 million, reflecting an approximate 12% growth YoY. However, analysts predict a slightly higher revenue figure of $682.23 million for the quarter.

The company anticipates the non-GAAP net income per share for the full year of 2024 to range between $0.58 and $0.62. In comparison, analysts predict the annual earnings to average at $0.60 per share. Earlier this year, CoStar had given a slightly lower forecast, predicting the full-year figure to range between $0.57 and $0.60.

In terms of annual revenue, CoStar aims to reach between $2.76 billion to $2.77 billion in 2024, which signifies a 13% growth YoY. Once again, this is slightly below the analysts' prediction of $2.77 billion. Previously, in February, CoStar had put forward a comparable expectation, with a range of $2.75 billion to $2.77 billion.