Recap: CoStar Gr Q2 Earnings

Shares of CoStar Gr CSGP were unchanged in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 4.93% over the past year to $2.34, which beat the estimate of $2.00.

Revenue of $397,159,000 higher by 15.53% from the same period last year, which beat the estimate of $390,150,000.

Outlook

Q3 EPS expected between $2.00 and $2.10.

Q3 revenue expected to be between $415,000,000 and $420,000,000.

Details Of The Call

Date: Jul 28, 2020

Time: 05:00 PM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=http%3A%2F%2Finvestors.costargroup.com%2Fnews-and-events%2Fdefault.aspx&eventid=2403447&sessionid=1&key=31E8357D70C9BBE615A2ABCB5D667BE1&regTag=&sourcepage=register

Technicals

Company's 52-week high was at $747.11

Company's 52-week low was at $500.24

Price action over last quarter: Up 10.12%

Company Overview

CoStar Group is a leading provider of commercial real estate data and marketplace listing platforms. Its data offering contains in-depth analytical information on over 5 million commercial real estate properties related to various subsectors including office, retail, multifamily, healthcare, industrial, self-storage, and data centers. It operates five flagship brands: CoStar Suite, LoopNet, Apartments.com, BizBuySell, and LandsofAmerica with approximately three quarters of its revenue classified as subscription based. The company has also recently expanded its presence in Canada, the United Kingdom, Spain, and France.