CoStar Group reported third-quarter 2024 revenue of $693 million, an 11% increase year-over-year, marking its 54th consecutive quarter of double-digit revenue growth. Net income for the quarter was $53 million, a significant 176% increase from the second quarter of 2024, with diluted earnings per share at $0.13.
Adjusted EBITDA reached $76 million, an 86% increase from the prior quarter and exceeding the midpoint of the company's guidance range by 54%. The company's commercial information and marketplace businesses maintained strong 43% profit margins, contributing significantly to these results.
CoStar Group also updated its full-year 2024 revenue guidance to a range of $2.72 billion to $2.73 billion, representing approximately 11% annual growth. Adjusted EBITDA guidance for the full year was raised to $205 million to $215 million, a 5% increase at the midpoint from previous guidance, reflecting strong operational momentum.
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