CoStar Group Inc - CSGP STOCK NEWS

CoStar Group (NASDAQ: CSGP) announced the expansion of its research and technology center in Richmond, Virginia. The new campus will consolidate operations for over 3,000 employees, making CoStar a leading employer in the area. The facility will focus on advanced technologies and research in the real estate sector, featuring a 750,000 square foot building complex that supports sustainability efforts. The expansion is expected to help foster innovation and collaboration, contributing to the firm’s growth over the next 5 to 10 years.

CoStar Group (NASDAQ: CSGP) reported a revenue increase to $499 million for Q3 2021, up 17% from $426 million in Q3 2020. Net income was $64 million, or $0.16 per diluted share. Non-GAAP net income rose to $99 million, an 11% increase year-over-year. EBITDA also rose to $123 million, a 13% increase. The company raised its full-year revenue guidance to $1.935-$1.940 billion, reflecting a 17% year-over-year growth at the midpoint. Adjusted EBITDA guidance was increased to $615-$620 million, while non-GAAP net income guidance per share was raised to $1.07-$1.08.

CoStar Group and the Real Estate Board of New York (REBNY) joint venture launched Citysnap, a public portal and app for the Residential Listing Service (RLS). Set to debut in Q2 2022, Citysnap promises comprehensive access to residential listings, aiding brokers and consumers alike. With over 40,000 active listings worth $50 billion, RLS offers data integrity and user-friendly search capabilities. Agents will benefit from lead capture through a 'your listing, your lead' policy. Citysnap marks a significant upgrade in real estate technology, enhancing transparency in NYC's market.

CoStar Group, Inc. (NASDAQ: CSGP) will release its third quarter financial results on October 26, 2021, after market close. A conference call to discuss the results and future outlook is scheduled for 5:00 PM EDT the same day. Investors can access a live audio webcast through CoStar's Investors section on its website, with a replay available later. The company plans to announce its fourth quarter and year-end results on February 22, 2022. CoStar is a leading provider of commercial real estate data and analytics.

CoStar Group (NASDAQ: CSGP) has acquired BureauxLocaux, a leading commercial real estate portal in France, enhancing its international expansion efforts. BureauxLocaux boasts over 60,000 listings and 425,000 monthly website visits. This acquisition aligns with CoStar's strategy to strengthen its presence in Europe, with BureauxLocaux serving over 90% of France's top commercial property brokers. The transaction is expected to leverage CoStar's resources to accelerate BureauxLocaux's growth in a market valued at €40 billion in annual transactions.

CoStar Group, Inc. (NASDAQ: CSGP) has appointed Jay Lybik as the National Director of Multifamily Analytics to enhance its analytics in the U.S. multifamily sector. Lybik brings over 25 years of experience in real estate research, previously serving as Vice President of Research Services at Institutional Property Advisors and Vice President of Market Research at Equity Residential. His leadership is expected to provide clients with deeper insights and improve CoStar's analytics team capabilities.

CoStar Group, Inc. (NASDAQ: CSGP) reported Q2 2021 revenue of $480 million, a 21% increase from $397 million in Q2 2020. Net income was $61 million or $0.16 per share. Adjusted EBITDA rose to $150 million, with a 17% increase year-over-year. The company achieved a 47% growth in net new bookings and record traffic on Apartments.com, which saw a 30% rise in unique visitors. CoStar raised its 2021 revenue forecast to between $1.940 billion and $1.950 billion. However, adjusted EBITDA guidance was lowered to $605 million to $615 million.

CoStar Group, Inc. (NASDAQ: CSGP) will report its Q2 2021 financial results on July 27, 2021, after the market closes. Management will hold a conference call at 5:00 PM EDT to discuss the results and future outlook. A live audio webcast will be accessible via the CoStar Group Investors webpage, with a replay available later. The company expects to announce Q3 2021 results on October 26, 2021, and Q4 2021 results on February 22, 2022. CoStar is a leading provider of commercial real estate information and analytics, serving extensive client needs in the sector.

CoStar Group (NASDAQ: CSGP) has announced a ten-for-one stock split approved by its Board of Directors, aimed at enhancing accessibility for investors and employees. The record date for this stock dividend is set for June 17, 2021, with shareholders receiving nine additional shares for each held share. The distribution will take place post-market on June 25, 2021, with trading adjusted to the split commencing on June 28, 2021. This move reflects CoStar's commitment to increasing shareholder value and engagement among investors.