CoStar Q1 revenue up 12% to $656M; Homes.com bookings $39M, record net new bookings $86M; raises FY guidance

COSTAR GROUP, INC.

2024-Q1 EPS reported $0.02 revenue$656,400,000

Q1 revenue $656M (+12% YoY); GAAP net income $7M ($0.02 EPS), non-GAAP net income $42M ($0.10 EPS).
Net new bookings record $86M, including $39M from Homes.com memberships launched Feb 12, 2024.
Residential Network traffic 156M monthly unique visitors in March; unaided brand awareness up from 4% to 24%.
FY2024 revenue guidance raised to $2.76-2.77B; adjusted EBITDA guidance raised to $185-205M (up $15M midpoint).
Apartments.com and CoStar both crossed $1B annualized run-rate revenue in Q1.

item 2.02 item 7.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

COSTAR GROUP, INC. reported the quarter ended March 31, 2024 results: revenue $656 million, net income $7 million, EPS $0.02. Guidance raised.

Period: the quarter ended March 31, 2024
Revenue: $656 million
Net income: $7 million
EPS: $0.02
Guidance: raised
Result: reported results

Exact text from the filing

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, 2024 was $656 million, up 12% over revenue of $584 million for the quarter ended March 31, 2023. Net income was $7 million in the first quarter and net income per diluted share was $0.02 for the first quarter of 2024.

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Source: SEC EDGAR

accession 0001193125-24-107185

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