2024-03-12 05:59:32 ET
Summary
- CoStar Group reported higher-than-expected revenue and exceeded guidance in Q4 2023, demonstrating solid execution and double-digit growth.
- The successful launch of their residential platform, with strong early adoption, solidifies CSGP's competitive position in the market.
- Increased marketing spend in 2024 is expected to drive long-term growth, but may lead to a decline in profitability and delay earnings growth until 2025.
Overview
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CoStar Group: Optimistic About Meeting FY 2027 Targets