CoStar Group reports 1Q revenue growth

CoStar Group, which owns real estate portal Homes.com and real estate agent marketing tool Homesnap, reported first quarter revenue of $584 million, a 13% increase from the same period in 2022. Its net income of $87 million in the quarter represented a slight decrease from $89 million in first quarter 2022. The company, which acquired Homes.com in May 2021, reported that Homes.com achieved 27 million unique visitors in March, more than 4X the 6 million it had when it acquired the portal. The company has expressed big plans for the portal as it reworks the product into its well-established advertising-based portal playbook. https://www.realestatenews.com/2023/04/25/costar-beats-expectations-increases-revenue-by-13