CoStar Reports Profit In Q1; Raises 2014 Guidance - Quick Facts

(RTTNews) - CoStar Group Inc. (CSGP) reported first-quarter net income of $9.74 million or $0.34 per share, compared to a loss of $2.41 million or $0.09 per share, previous year. Non-GAAP net income was $19.77 million or $0.69 per share, for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.64 for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $119.08 million from $104.03 million. Analysts expected revenue of $117.66 million for the quarter.

For the full year of 2014, the company raised earnings guidance and now expects non-GAAP net income per share in a range of approximately $3.05 to $3.15. The company also increased its revenue guidance, and now expects consolidated revenue of approximately $560 million to $570 million. Analysts expect the company to report 2014 profit per share of $3.01 on revenue of $496.79 million.

On a combined basis, including CoStar Group and Apartments.com, the company expects the acquisition of Apartments.com to be accretive to non-GAAP net income in 2014.