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Compared to Estimates, CoStar (CSGP) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2 min read

CoStar Group (CSGP) reported $656.4 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 12.3%. EPS of $0.10 for the same period compares to $0.29 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $649.27 million, representing a surprise of +1.10%. The company delivered an EPS surprise of +66.67%, with the consensus EPS estimate being $0.06.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how CoStar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- CoStar: $250.30 million versus the two-analyst average estimate of $251.06 million. The reported number represents a year-over-year change of +11.2%.

  • Revenues- Information service: $33 million versus $32.60 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -20.7% change.

  • Revenues- Other Marketplaces: $30.60 million versus $29.80 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.1% change.

  • Revenues- LoopNet: $69.10 million versus $68.66 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +9.3% change.

  • Revenues- Residential: $18.60 million versus $16.50 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +41.4% change.

  • Revenues- Multifamily: $254.80 million versus $251.24 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.9% change.

View all Key Company Metrics for CoStar here>>>

Shares of CoStar have returned -11% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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Zacks Investment Research