CoStar Group Cuts FY23 Revenue Forecast From $2.465B-$2.48B To $2.45B-$2.46B; Consensus $2.48B
Portfolio Pulse from Benzinga Newsdesk
CoStar Group has reduced its FY23 revenue forecast from $2.465B-$2.48B to $2.45B-$2.46B, below the consensus of $2.48B. The revision is due to lower property transaction volume expectations in the second half of 2023, which will impact Ten-X revenue.
July 25, 2023 | 8:38 pm
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NEGATIVE IMPACT
CoStar Group's lowered revenue forecast for FY23 could negatively impact its stock price in the short term.
CoStar Group's lowered revenue forecast indicates a potential decrease in business performance, which could lead to a decrease in investor confidence and a subsequent drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100