Costar: Q4 Earnings Snapshot

WASHINGTON (AP) — WASHINGTON (AP) — CoStar Group Inc. (CSGP) on Tuesday reported fourth-quarter net income of $96.4 million.

The Washington-based company said it had net income of 24 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 33 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The commercial real estate information and marketing provider posted revenue of $640.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $633.3 million.

For the year, the company reported profit of $374.7 million, or 92 cents per share. Revenue was reported as $2.46 billion.

For the current quarter ending in March, CoStar expects its per-share earnings to range from 6 cents to 7 cents.

The company said it expects revenue in the range of $645 million to $650 million for the fiscal first quarter.

CoStar expects full-year earnings in the range of 57 cents to 60 cents per share, with revenue ranging from $2.75 billion to $2.77 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