CoStar Group, Inc. Q1 Profit Decreases, but beats estimates

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

The company's earnings came in at $87 million, or $0.21 per share. This compares with $89 million, or $0.23 per share, in last year's first quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $118 million or $0.29 per share for the period.

Analysts on average had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.2% to $584 million from $516 million last year.

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

-Earnings (Q1): $87 Mln. vs. $89 Mln. last year. -EPS (Q1): $0.21 vs. $0.23 last year. -Analyst Estimates: $0.25 -Revenue (Q1): $584 Mln vs. $516 Mln last year.

-Guidance: Full year EPS guidance: $1.21 - $1.24 Full year revenue guidance: $2.465 - $2.48 bln