The company said annual revenue for 2023 rose $273 million, or 12.5%, to $2.5 billion. The increase included a $169 million, or 22.6%, rise in Multifamily revenue and a $88 million, or 10.5%, rise in CoStar revenue.

1. 01

   The company said annual revenue for 2023 rose $273 million, or 12.5%, to $2.5 billion. The increase included a $169 million, or 22.6%, rise in Multifamily revenue and a $88 million, or 10.5%, rise in CoStar revenue.

2. 02

   CoStar Group said selling and marketing expenses for 2023 increased $306 million, or 44.7%, to $990 million. The company cited a $244 million increase in marketing costs for advertising its brands as a factor. As a percentage of revenue, selling and marketing expenses rose from 31% to 40%.

3. 03

   The company said net interest income for 2023 increased $182 million, or 565.4%, to $214 million. It attributed the increase to higher interest earned on cash equivalents.

4. 04

   The company estimated the total cost of the Richmond campus expansion, net of tax benefits, at $450 to $600 million, and expects cash expenditures for the expansion in 2024 of about $385 million. It also completed the purchase of the Arlington building for $340.0 million in cash in February 2024.

Key figures

Fiscal year ended December 31, 2023

Revenue

$2.5B

Operating income

$282M

Net income

$375M

EPS

$0.92

Gross profit

$2.0B

Operating cash flow

$490M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.