CoStar Group Expects Q3 Revenue Of $622M-$627M (Consensus $632.43M), Non-GAAP EPS Of $0.29-$0.30 (Consensus $0.30)
Portfolio Pulse from Benzinga Newsdesk
CoStar Group has projected its Q3 revenue to be between $622M-$627M, which is below the consensus estimate of $632.43M. The company also expects its non-GAAP EPS to be between $0.29-$0.30, in line with the consensus estimate of $0.30.
July 25, 2023 | 8:43 pm
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NEGATIVE IMPACT
CoStar Group's Q3 revenue projection is lower than the consensus estimate, which could negatively impact its stock price. However, its non-GAAP EPS projection is in line with the consensus, which could mitigate some of the negative impact.
Lower than expected revenue projections often lead to a decrease in stock price as it indicates potential underperformance. However, the in-line EPS projection may provide some reassurance to investors, potentially limiting the negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100