CoStar Group Reports Strong Q2 Performance with Revenue Growth and Profitability Inflection
CoStar Group (NASDAQ:CSGP) reported second-quarter revenue of $925 million, up 18% year over year. Adjusted EBITDA more than doubled to $184 million, while net income surged by 817%. The company maintained its full-year adjusted EBITDA guidance between $780 million and $820 million. The residential segment reached profitability for the first time with revenue growing 33% year over year to $444 million. Homes.com saw a significant increase in agent subscribers, which more than doubled to over 36,000, while its revenue rose by 66%. Meanwhile, CoStar's commercial real estate segment delivered steady growth despite challenges at Ten-X. Despite lowering its full-year revenue outlook due to restructuring efforts and sales-force changes, the company reaffirmed adjusted EPS guidance. It also plans $700 million in share repurchases for 2026 as part of ongoing buyback initiatives.
Tickers: $CSGP
Topics: buybacks ebitda_increase residential_operations revenue_growth