Why Shares of CoStar Rose Today
Shares of the online real estate company CoStar Group (NASDAQ: CSGP) rose roughly 14.8% today after the company reported strong earnings results for the second quarter of the year.
CoStar reported $83 million of profit in the second quarter on total revenue of $536 million, both numbers that topped analyst expectations for the quarter.
"We delivered outstanding results in the second quarter of 2022," CoStar's CEO Andrew C. Florance said in a statement. "With net new bookings of $84 million we easily surpassed the record sales results we set in the first quarter of this year. Our top three products, CoStar, Apartments.com and LoopNet, all achieved high double-digit sales increases over the second quarter of 2021."
Source Fool.com
