CoStar Cuts FY24 Revenue Outlook From $2.76B - $2.77B To $2.735B - $2.745B, Est $2.767B
Portfolio Pulse from Benzinga Newsdesk
CoStar Group has revised its FY24 revenue outlook downward from $2.76B - $2.77B to $2.735B - $2.745B, which is below the estimated $2.767B. This still represents a year-over-year growth of approximately 12% at the midpoint of the range.
July 23, 2024 | 8:20 pm
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CoStar Group has lowered its FY24 revenue outlook to $2.735B - $2.745B, below the estimated $2.767B. Despite the reduction, the new outlook still indicates a 12% year-over-year growth.
The downward revision of the revenue outlook is likely to negatively impact investor sentiment in the short term, as the new range is below the market estimate. However, the 12% year-over-year growth may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100