CoStar Group, Inc. (CSGP) has announced its third-quarter earnings, which have decreased compared to last year, but surpassed the expectations set by market analysts.
The company's net earnings were reported at $53.0 million, equating to $0.13 per share, down from $90.6 million, or $0.22 per share, in the same quarter of the previous year.
When excluding special items, CoStar Group recorded adjusted earnings of $88.3 million, or $0.22 per share, for this period.
Analysts, as reported by Thomson Reuters, had projected average earnings of $0.16 per share. It is noteworthy that such analyst expectations typically do not account for extraordinary items.
The company's revenue for the quarter experienced a 10.9% increase, rising to $692.6 million from $624.7 million in the previous year.
A summary of CoStar Group's key financial figures (GAAP) is as follows:
- Earnings for Q3: $53.0 million, compared to $90.6 million last year.
- Earnings per Share (EPS) for Q3: $0.13, compared to $0.22 last year.
- Revenue for Q3: $692.6 million, compared to $624.7 million last year.
**Future Outlook:**
For the next quarter, CoStar Group anticipates an EPS range between $0.21 and $0.23, and for the full year, it projects an EPS range of $0.67 to $0.69.
