CoStar Group, Inc. Q3 Profit Increases, beats estimates

(RTTNews) - CoStar Group, Inc. (CSGP) reported a profit for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $72.29 million, or $0.18 per share. This compares with $64.30 million, or $0.16 per share, in last year's third quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $118.07 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.5% to $556.56 million from $499.32 million last year.

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

-Earnings (Q3): $72.29 Mln. vs. $64.30 Mln. last year. -EPS (Q3): $0.18 vs. $0.16 last year. -Analyst Estimate: $0.24 -Revenue (Q3): $556.56 Mln vs. $499.32 Mln last year.