Business
CoStar Group Second Quarter 2024 Revenue Increased 12% Year-over-Year and Net New Bookings were $67 Million. CoStar Group Reaches a Record 183 Million Monthly Average Unique Visitors.
WASHINGTON--(BUSINESS WIRE)-- CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the
About this update from Costar Group, Inc.
[{"type":"text","content":" WASHINGTON--(BUSINESS WIRE)--\nCoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended June 30, 2024 was $678 million, up 12% over revenue of $606 million for the quarter ended June 30, 2023. Net income was $19 million in the second quarter of 2024 and net income per diluted share was $0.05.\n\n\n“We achieved another strong quarter of results in terms of revenue, sales and traffic to our websites,” said Andy Florance, Founder and CEO of CoStar Group. “Overall revenue grew 12% year-over-year, and our two billion-dollar run rate businesses continue to deliver double-digit revenue growth with Apartments.com growing at 18% and CoStar at 10% over the second quarter of last year. Our commercial information and marketplace businesses continue to perform and delivered 41% profit margins in the second quarter of 2024,” continued Florance.\n\n\n“Homes.com net new bookings through June reached over $55 million, a significant milestone as it took Apartments.com two years to achieve those results. Our Homes.com Network had 148 million monthly average unique visitors in the second quarter, according to Google Analytics, maintaining our position as one of the top two most heavily trafficked residential property marketplaces in the U.S.” continued Florance. “Our unaided brand awareness continues to climb and reached 27% in June 2024 as a result of our aggressive brand marketing campaign.\"\n\n\n\n\nYear 2023-2024 Quarterly Results - Unaudited\n\n\n\n\n\n\n\n\n(in millions, except per share data)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ1\n\n\n\n\n\n\nQ2\n\n\n\n\n\n\nQ3\n\n\n\n\n\n\nQ4\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ1\n\n\n\n\n\n\nQ2\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenues\n\n\n\n\n\n\n$584\n\n\n\n\n\n\n$606\n\n\n\n\n\n\n$625\n\n\n\n\n\n\n$640\n\n\n\n\n\n\n \n\n\n\n\n\n\n$656\n\n\n\n\n\n\n$678\n\n\n\n\n\n\n\n\nNet income\n\n\n\n\n\n\n87\n\n\n\n\n\n\n101\n\n\n\n\n\n\n91\n\n\n\n\n\n\n96\n\n\n\n\n\n\n \n\n\n\n\n\n\n7\n\n\n\n\n\n\n19\n\n\n\n\n\n\n\n\nNet income per share - diluted\n\n\n\n\n\n\n0.21\n\n\n\n\n\n\n0.25\n\n\n\n\n\n\n0.22\n\n\n\n\n\n\n0...