CoStar: Q1 Earnings Snapshot

WASHINGTON (AP) — WASHINGTON (AP) — CoStar Group Inc. (CSGP) on Tuesday reported first-quarter net income of $6.7 million.

The Washington-based company said it had net income of 2 cents per share. Earnings, adjusted for one-time gains and costs, came to 10 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The commercial real estate information and marketing provider posted revenue of $656.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $649.3 million.

For the current quarter ending in June, CoStar expects its per-share earnings to range from 9 cents to 10 cents.

The company said it expects revenue in the range of $674 million to $679 million for the fiscal second quarter.

CoStar expects full-year earnings in the range of 58 cents to 62 cents per share, with revenue ranging from $2.76 billion to $2.77 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

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