CoStar Group Earnings:Everything You Must Know Now

CoStar Group Inc. (NASDAQ:CSGP) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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CoStar Group Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 46.88% to $0.47 in the quarter versus EPS of $0.32 in the year-earlier quarter.

Revenue: Rose 51.54% to $104 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: CoStar Group Inc. reported adjusted EPS income of $0.47 per share. By that measure, the company beat the mean analyst estimate of $0.44. It beat the average revenue estimate of $102.55 million.

Quoting Management: “I am very pleased with the progress we have made since closing the LoopNet acquisition a year ago,” said Andrew C. Florance, Founder and Chief Executive Officer of CoStar. “We had a record $13.8 million in annualized net new sales in the first quarter of 2013, which is up 27% from last quarter. In March 2013, we recorded our best sales month ever.”

Key Stats (on next page)…

Revenue increased 3.92% from $100.08 million in the previous quarter. EPS increased 2.17% from $0.46 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.52 and has not changed. For the current year, the average estimate has moved down from a profit of $2.17 to a profit of $2.13 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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