Loading...
•
Mar 31, 2022
CoStar Q1 2022 Earnings Report
Revenue increased and net new bookings grew, marking an outstanding start to the year.
Key Takeaways
CoStar Group's Q1 2022 revenue reached $516 million, a 13% increase year-over-year, with net income rising by 20% to $89 million. The company experienced record sales, driven by strong performance in its flagship product, CoStar, and a rebound in Apartments.com sales. The company is raising its revenue and adjusted EBITDA guidance for the year.
Revenue for Q1 2022 reached $516 million, up 13% year-over-year.
Net income for Q1 2022 increased by 20% to $89 million.
Net new bookings grew by 31% to a record $68 million.
Residential operations revenue increased by 63% year-over-year to $18 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is raising its revenue guidance to a range of $2.15 billion to $2.17 billion for the full year of 2022 and expects revenue for the second quarter of 2022 in the range of $529 million to $534 million. The Company is raising its adjusted EBITDA guidance to a range of $585 million to $615 million for the full year of 2022 and expects adjusted EBITDA in a range of $123 million to $128 million for the second quarter of 2022.
Positive Outlook
- Revenue guidance raised to $2.15B - $2.17B for 2022.
- Revenue for Q2 2022 expected to be $529M - $534M.
- Adjusted EBITDA guidance raised to $585M - $615M for 2022.
- Adjusted EBITDA for Q2 2022 expected to be $123M - $128M.
- Full year 2022 non-GAAP net income per diluted share in a range of $0.98 to $1.03 based on 395 million shares
Challenges Ahead
- Actual results may differ materially due to risk factors and uncertainties.
- Economic environment and the real estate industry may impact results.
- COVID-19 pandemic and responses to it may affect global economies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...