Dramatic Growth in Apartments.com Drives CoStar's Stellar 2Q Earnings; We Expect to Increase FVE
CoStar Group reported blockbuster second-quarter earnings results, with revenue increasing 16% and net income increasing 44% over the prior-year quarter. As of this writing, the shares are up nearly 9% as investors react positively to the results. CoStar’s impressive performance was underpinned by the breakneck pace of growth in Apartments.com, which has gone from $86 million in revenue when it was acquired in 2014 to a run rate of nearly $500 million in the second quarter of 2019. Despite being...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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