CoStar Q1 revenue $584M (+13% YoY); net new bookings $80M (+17%); raises FY non-GAAP EPS guidance

The Company now expects revenue in the range of $2.465 billion to $2.48 billion for the full year of 2023, representing growth of approximately 13% to 14% for the year. The Company expects revenue for the second quarter of 2023 in the range of $603 million to $608 million, representing revenue growth of approximately 13% year-over-year at the midpoint of the range. The Company expects adjusted EBITDA in the range of $505 million to $520 million for the full year of 2023. For the second quarter of 2023, the Company expects adjusted EBITDA in the range of $118 million to $123 million. The Company is raising its full year 2023 non-GAAP net income per diluted share outlook to reflect higher expected rates of return on investments. The new outlook range for non-GAAP net income per diluted share is $1.21 to $1.24 based on 407 million shares, an increase of $0.15 per diluted share compared to the prior outlook. For the second quarter of 2023, the Company expects non-GAAP net income per dilute

WASHINGTON – April 25, 2023 - CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended March 31, 2023 was $584 million, an increase of 13% over revenue of $516 million for the quarter ended March 31, 2022. Net income was $87 million and net income per diluted share was $0.21 for the first quarter of 2023.