CoStar Group, Inc.
CoStar Group Reports Strong Second Quarter 2024 Results
Summary
CoStar Group, Inc. reported a 12% year-over-year increase in revenue to $678 million for the second quarter of 2024. The company achieved a net income of $19 million with an average of 183 million monthly unique visitors across its platforms. CoStar Group expects full-year 2024 revenue between $2.735 billion and $2.745 billion, with adjusted EBITDA in the range of $195 million to $205 million. The company also provided forward-looking guidance for the third quarter of 2024, expecting revenue in the range of $692 million to $697 million and adjusted EBITDA between $47 million and $52 million.
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About CoStar Group, Inc.
CoStar Group, Inc. is a leading provider of information, analytics, and marketing services for the commercial real estate industry. The company's primary function is to offer comprehensive data solutions that professionals rely on to evaluate, buy, sell, finance, and invest in commercial properties. CoStar Group impacts sectors including real estate investment, property management, and urban planning through its databases and analytics tools. Its extensive suite of products, such as CoStar, LoopNet, and Apartments.com, delivers detailed property listings, market analysis, and a vast network for connecting buyers, sellers, and renters. Founded in 1987 and based in Washington, D.C., CoStar Group plays a crucial role in enhancing the transparency and efficiency of the real estate marketplace, serving a diverse clientele from brokers and appraisers to government agencies and developers.
Official SEC Documents
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