CoStar: Q2 Earnings Snapshot

WASHINGTON (AP) — WASHINGTON (AP) — CoStar Group Inc. (CSGP) on Tuesday reported second-quarter net income of $19.2 million.

On a per-share basis, the Washington-based company said it had profit of 5 cents. Earnings, adjusted for amortization costs and stock option expense, came to 15 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The commercial real estate information and marketing provider posted revenue of $677.8 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $676.9 million.

For the current quarter ending in September, CoStar expects its per-share earnings to range from 15 cents to 16 cents.

The company said it expects revenue in the range of $692 million to $697 million for the fiscal third quarter.

CoStar expects full-year earnings in the range of 64 cents to 66 cents per share, with revenue ranging from $2.74 billion to $2.75 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSGP at https://www.zacks.com/ap/CSGP