CoStar beats Q1 revenue on strong consumer traffic on website [Yahoo! Finance]
CoStar Group, Inc. (CSGP)
Last costar group, inc. earnings: 4/28 04:02 pm
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Source: Yahoo! Finance
The strong results are fueled by monetization of Homes.com. The membership subscriptions of its website reached nearly $40 million in net new bookings in the first-quarter, with overall net new booking reaching $86 million. Sales of Homes.com memberships were supported by strong Residential Network traffic which reached a record 156 million monthly unique visitors in March, the company said quoting Google Analytics. CoStar posted quarterly revenue of $656 million, above analysts' estimate of $653.3 million, according to LSEG data. It raised the lower end of its full-year 2024 revenue forecast. It now expects revenue between $2.76 billion to $2.77 billion, up from its earlier forecast of $2.75 billion to $2.77 billion. The National Association of Realtors agreed in March to resolve antitrust litigation accusing brokerages of inflating sales commissions. This settlement is expected to reduce commissions cost in buying and selling homes. The settlement is also likely to spur m
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CSGP
Earnings
- 4/23/24 - Beat
CSGP
Sec Filings
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- 4/26/24 - Form 144
- CSGP's page on the SEC website