CoStar Group ( (CSGP) ) has released its Q4 earnings. Here is a breakdown of the information CoStar Group presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
CoStar Group, Inc., a prominent entity in the commercial real estate information, analytics, and online marketplaces sector, continues to wield substantial influence across the global property market through its robust digital platforms. The company’s portfolio includes major brands like CoStar, LoopNet, and Apartments.com, which are pivotal in providing critical data and insights to real estate professionals.
In its latest earnings report, CoStar Group showcased a commendable performance for the full year of 2024, with revenues reaching $2.74 billion, marking an 11% increase compared to the previous year. This growth trajectory was mirrored in the fourth quarter, where revenue climbed to $709 million, reflecting a similar year-over-year growth rate. Notably, the company’s EBITDA and Adjusted EBITDA saw remarkable increases of 43% and 47% respectively from the third quarter of 2024.
Key highlights from CoStar’s financial performance include a significant revenue contribution from Apartments.com, which garnered $1.07 billion in 2024, a 17% rise over the prior year. The flagship CoStar platform also demonstrated strong growth with a 10% increase in revenue. Furthermore, the Homes.com Network has solidified its standing as the second-largest residential real estate marketplace in the U.S., showing a significant increase in unique monthly visitors.
The company also announced a stock repurchase program, approved by its Board of Directors, authorizing the buyback of up to $500 million of its common stock. This move underscores CoStar’s robust financial health and commitment to enhancing shareholder value. Additionally, CoStar’s commercial information and marketplace brands achieved impressive profit margins of 43%.
Looking ahead, CoStar Group anticipates continued growth, projecting 2025 revenues to range between $2.985 billion and $3.015 billion, which represents approximately 10% growth at the midpoint. The company’s strategic focus on digital innovation and expansive market reach positions it well for future endeavors in the evolving real estate landscape.
