CoStar Group, Inc. (CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announced today that revenue for the quarter ended September 30, 2018, was $306 million, an increase of 23% over revenue of $248 million for the third quarter of 2017.

Net income for the quarter ended September 30, 2018, increased $25 million to $59 million or $1.61 per diluted share compared to $34 million for the third quarter of 2017, an increase of 72%. Non-GAAP net income (defined below) for the quarter ended September 30, 2018, which excludes one-time costs associated with the acquisition of ForRent and other items, was $79 million or $2.16 per diluted share, an increase of $33 million or 70% versus the third quarter of 2017. Company-wide net new bookings were $40 million in the third quarter of 2018, an increase of 16% year-over-year.

"We achieved another excellent quarter of revenue growth, with exceptionally strong margin expansion," said Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. "We surpassed $300 million in revenue in the third quarter and generated $110 million of adjusted EBITDA – both high water marks for the Company. We are confidently on our way to surpassing our goal of 40% adjusted EBITDA margin for the fourth quarter of 2018. I am particularly pleased with our strong sales growth given our team's year-to-date focus on converting over 7,100 customers to the Apartments.com network."

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