Costar Group (NASDAQ: CSGP) reported Q1 EPS of $2.53, $0.09 better than the analyst estimate of $2.44. Revenue for the quarter came in at $328.43 million versus the consensus estimate of $327.53 million.

“The strong revenue and earnings growth we showed in 2018 has continued into the first quarter of 2019,” said Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. “In the first quarter of 2019, our sales team generated $48 million in company-wide net new bookings, an increase of 36% year-over-year. Apartments.com had an exceptionally strong sales quarter, growing quarterly net new bookings by 40% year-over-year, exceeding even the record net new bookings level we achieved in the fourth quarter of 2018.”

Florance continued, “Unique visitors to our network of marketplaces grew 29% year-over-year from 38 million in the first quarter of 2018 to 49 million in first quarter of 2019. With strong traffic growth and a robust product development pipeline for Apartments, LoopNet, and CoStar we believe we will continue to deliver strong consistent revenue growth.”

GUIDANCE:

Costar Group sees FY2019 EPS of $9.90-$10.10, versus the consensus of $9.97. Costar Group sees FY2019 revenue of $1370-1380 million, versus the consensus of $1380 million.

Costar Group sees Q2 2019 EPS of $1.94-$2.02, versus the consensus of $1.88. Costar Group sees Q2 2019 revenue of $333-337 million, versus the consensus of $339.98 million.

For earnings history and earnings-related data on Costar Group (CSGP) click here.