CoStar Group Non-GAAP EPS of $0.29 beats by $0.04, revenue of $584M beats by $4.64M, outlook raised
CoStar Group press release (NASDAQ:CSGP): Q1 Non-GAAP EPS of $0.29  beats by $0.04.
Revenue of $584M (+13.2% Y/Y)  beats by $4.64M.
The Company now expects revenue in the range of $2.465 billion to $2.48 billion for the full year of 2023, representing growth of approximately 13% to 14% for the year, vs. consensus of $2.47B

The Company expects revenue for the second quarter of 2023 in the range of $603 million to $608 million, representing revenue growth of approximately 13% year-over-year at the midpoint of the range, vs. consensus of $604.25M.
The Company is raising its full year 2023 non-GAAP net income per diluted share outlook to reflect higher expected rates of return on investments. The new outlook range for non-GAAP net income per diluted share is $1.21 to $1.24 based on 407 million shares, an increase of $0.15 per diluted share compared to the prior outlook, vs. consensus of $1.09.
For the second quarter of 2023, the Company expects non-GAAP net income per diluted share in a range of $0.29 to $0.30 based on 407 million shares,vs. consensus of $0.26. These ranges include an estimated non-GAAP tax rate of 26% for the full year and the second quarter of 2023.