CoStar Group, Inc. (CSGP) Reports Q3 Earnings of $0.28, Raises FY11 Guidance

CoStar Group, Inc. (NASDAQ: CSGP) reported Q3 EPS of $0.28, versus $0.33 reported last year. Revenue for the quarter came in at $63.8 million, versus $57.1 million reported last year.

"The Company's outlook for 2011 annual revenue has increased to a range of $250.5 million to $251.5 million, which is $7.5 million higher than the high-end of our original revenue outlook for the year reflecting the strong sales and revenue momentum we have achieved. The consensus is currently $249.82 million.

For the fourth quarter of 2011 we expect a range of approximately $65.0 million to $66.0 million in revenues. The consensus is currently $64.47 million.

The Company expects non-GAAP net income of approximately $1.18 to $1.22 per diluted share for the full year and approximately $0.28 to $0.32 per diluted share for the fourth quarter of 2011. The company increased the highend of its full year by $0.09. The consensus for the full year is $1.08 and $0.48 for the fourth quarter.

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