Costar Posts In line Q3, But Stock Plunges 8 percent on Disappointing Guidance


Costar Group (NASDAQ:CSGP) reported Q3 earnings with an EPS of $0.30 and revenues of $625 million, reflecting a 12% increase year-over-year, aligning with market expectations. However, the company’s shares saw a decline of over 8% in pre-market today due to its guidance not meeting anticipated numbers.
For Q4/23, Costar Group predicts an EPS between $0.31-$0.32, while market estimates stand at $0.35. The company also forecasts Q4 revenues to be between $630-$635M, whereas market consensus is at $644.5M.
For the entire year, Costar Group’s anticipated EPS is between $1.21-$1.22, against the market expectation of $1.24. The company expects its annual revenues to lie between $2.445-$2.45 billion, slightly short of the market’s prediction of $2.461B.

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