CoStar’s Q3 Revenue Climbs 20.4% to $833.6M, Guides 25.8% Q4 Growth
CoStar’s Homes.com platform published January data on the most expensive home sales across major US markets, highlighting continued strength in luxury real estate demand. CoStar beat Q3 revenue forecasts with $833.6 million (up 20.4% YoY) and guided for Q4 revenue growth of 25.8%, outpacing peers Broadridge and SS&C.
1. January Homes.com Luxury Sales Report
CoStar’s Homes.com unit released its January report on the priciest residential transactions in major US markets, spotlighting high‐end deals in New York, Los Angeles and Miami as indicators of sustained luxury demand. The release underscores Homes.com’s growing role in tracking premium real estate activity.
2. Q3 Results and Beat
In its latest quarter, CoStar generated $833.6 million in revenue, marking a 20.4% year-over-year increase that surpassed consensus revenue and EPS estimates. The strong beat reflects robust subscription growth across its real estate information and analytics services.
3. Guidance and Peer Comparison
For the upcoming quarter, CoStar projects 25.8% year-over-year revenue growth, significantly higher than peers Broadridge’s 7.8% and SS&C’s 8.1% reported in recent Q4 results. Despite the upbeat outlook, CoStar shares have slid 24.2% over the past month versus a 6.4% average decline among comparable data-services firms.