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

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

The company's earnings came in at $6.7 million, or $0.02 per share. This compares with $87.1 million, or $0.21 per share, in last year's first quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $41.7 million or $0.10 per share for the period.

Analysts on average had expected the company to earn $0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.3% to $656.4 million from $584.4 million last year.

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

-Earnings (Q1): $6.7 Mln. vs. $87.1 Mln. last year. -EPS (Q1): $0.02 vs. $0.21 last year. -Revenue (Q1): $656.4 Mln vs. $584.4 Mln last year.