WASHINGTON (AP) — WASHINGTON (AP) — CoStar Group Inc. (CSGP) on Tuesday reported fourth-quarter profit of $59.8 million.
On a per-share basis, the Washington-based company said it had profit of 15 cents. Earnings, adjusted for stock option expense and amortization costs, were 26 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The commercial real estate information and marketing provider posted revenue of $709.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $701 million.
For the year, the company reported profit of $138.7 million, or 34 cents per share. Revenue was reported as $2.74 billion.
For the current quarter ending in March, CoStar said it expects revenue in the range of $711 million to $716 million.
The company expects full-year revenue in the range of $2.99 billion to $3.02 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSGP at https://www.zacks.com/ap/CSGP
/A%20concept%20image%20of%20space_%20Image%20by%20Canities%20via%20Shutterstock_.jpg)
/A%20concept%20image%20of%20a%20flying%20car_%20Image%20by%20Phonlamai%20Photo%20via%20Shutterstock_.jpg)
/Oracle%20Corp_%20office%20logo-by%20Mesut%20Dogan%20via%20iStock.jpg)