CoStar Group, Inc. (CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announced today that revenue for the quarter ended June 30, 2018 was $297 million, an increase of 25% over revenue of $237 million for the second quarter of 2017. Net income for the quarter ended June 30, 2018 increased $22 million to $44 million or $1.20 per diluted share compared to $22 million for the second quarter of 2017, an increase of 98%. Non-GAAP net income (defined below) for the quarter ended June 30, 2018, which excludes one-time costs associated with the acquisition of ForRent and other items, was $60 million or $1.66 per diluted share, an increase of $32 million or 114% versus the second quarter of 2017.

"We had an exceptional second quarter of 2018 as we delivered excellent revenue growth, strong margin expansion and continued positive momentum in net bookings," said Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. "In June 2018, we generated our first-ever $100 million revenue month and are now operating at a $1.2 billion annual revenue run rate. In the second quarter of 2018, CoStar Suite revenue growth was an impressive 18% compared to the second quarter of 2017 as we continue to successfully convert LoopNet (LOOP-OLD) information users to CoStar."

Company-wide net new bookings were $45 million in the second quarter of 2018, an increase of 23% year-over-year. The Commercial Property and Land marketplaces had their best sales quarter ever in the second quarter of 2018 with a year-over-year increase of 105%, which featured significant sales of LoopNet Premium Lister and Power Ads on LoopNet.com.

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