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Sep 30, 2021
CoStar Q3 2021 Earnings Report
CoStar's revenue increased by 17% year-over-year, with CoStar accelerating to double-digit revenue growth and net sales reaching an all-time high.
Key Takeaways
CoStar Group reported a strong third quarter with revenue of $499 million, a 17% increase year-over-year. The company's CoStar performance improved with double-digit growth rates. Net income for the quarter was $64 million, or $0.16 per diluted share, while non-GAAP net income was $99 million, or $0.25 per diluted share.
CoStar Group's revenue for Q3 2021 was $499 million, a 17% increase year-over-year.
Net income for Q3 2021 was $64 million, or $0.16 per diluted share.
Non-GAAP net income for Q3 2021 was $99 million, or $0.25 per diluted share.
EBITDA for Q3 2021 was $123 million, a 13% increase year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is adjusting its revenue guidance for the full year of 2021 to a new range of $1.935 billion to $1.940 billion, representing growth of approximately 17% year-over-year at the midpoint of the range. Revenue for the fourth quarter of 2021 is expected to be in the range of $498 million to $503 million, representing year-over-year revenue growth of approximately 13% at the midpoint of the range.
Positive Outlook
- Full year revenue guidance increased to $1.935B - $1.940B, representing 17% growth.
- Q4 revenue is expected to be $498M - $503M, a 13% year-over-year increase.
- Full year adjusted EBITDA guidance increased to $615M - $620M, representing 12% growth.
- Q4 adjusted EBITDA is expected to be $161M - $166M.
- Full year non-GAAP net income per diluted share guidance increased to $1.07 - $1.08.
Challenges Ahead
- Multifamily revenue expectations were reduced.
- Fourth quarter revenue growth is projected to be lower than the current quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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