CoStar Q1 Earnings Beat, Shares Drop 4%

CoStar Group posted Q1 adjusted EPS $0.23 beating consensus $0.18, while revenue $897 million rose 23% YoY but missed estimate by $0.47 million.
Net new bookings jumped 20% YoY to $67 million, marking the 60th consecutive quarter of double‑digit revenue growth.
CoStar raised its 2026 adjusted EBITDA outlook to $780‑$820 million and EPS guidance to $1.32‑$1.39, both above analyst expectations.
Despite the beat, shares fell 4% after the release; Q2 2026 revenue is projected at $922‑$932 million, up ~19% YoY.