CoStar Group, Inc. (CSGP) Tops Q3 EPS by 8c

CoStar Group, Inc. (NASDAQ: CSGP) reported Q3 EPS of $0.87, $0.08 better than the analyst estimate of $0.79. Revenue for the quarter came in at $153.1 million versus the consensus estimate of $150.9 million.

"We had a very strong third quarter with solid top and bottom line growth as we crossed $600 million in annual revenue run rate," said Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. "I am very pleased that our investment in our CoStar field sales force is beginning to show solid results. Annualized net new sales for core CoStar subscription services increased 25% in the third quarter of 2014 versus the third quarter of last year. Companywide annualized net new sales on annual contracts were $15.4 million in the third quarter of 2014, an increase of 12% compared to the third quarter of 2013. Our debt/equity sales focus has yielded excellent results year-to-date and we have begun to invest in additional sales people and researchers to offer even stronger higher priced core services and tools for institutional clients."

For earnings history and earnings-related data on CoStar Group, Inc. (CSGP) click here.

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