CoStar Group Reports First-Quarter Results; Investment in Sales Staff Already Paying Off
CoStar Group did not waste time upping both top-line and bottom-line guidance for 2017. While slightly above our current-year forecast, the company has an acquisitive appetite and has invested heavily in its salesforce, so we would not be surprised to see further hikes down the road. Management increased revenue $10 million at the midpoint to between $945 million and $955 million, and upped non-GAAP EPS $0.12 at the midpoint to between $4.30 and $4.40 per diluted share. The revenue increase is e...CoStar Group provides information, analytics and online marketplace services to the commercial real estate and related business community through its database of commercial real estate information covering the U.S., the U.K., and parts of Canada, Spain, Germany and France. The company provides online marketplaces for commercial real estate, apartment rentals, lands for sale and businesses for sale. The company operates within two operating segments, North America and International, and its services are distributed to its clients under subscription-based license agreements that renew automatically, a majority of which have a term of one year.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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