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CoStar beats earnings

CoStar Group CEO Andrew C. Florance (right) (Credit: Virginia Commonwealth University)

CoStar Group beat earnings as it reported $315 million in net income in 2019. The real estate data firm generated $1.4 billion revenue in 2019, up from $1.2 billion in 2018. The company’s stock price has increased around 8% percent this year handily outperforming the S&P 500’s decline, according to Yahoo.

  • Worth Noting: The data giant has a market cap of $24.6 billion.
  • Heard on the Street: CEO Andrew Florance: “Our efforts to build online marketplaces and commercial real-estate are certainly paying off with almost 62 percent of our sales in 2019 coming from, LoopNet and our other market places.”

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