EarningsQ2 2026 Earnings Report
MX:CSGP Q2 2026 EPS Results
Actual EPS$5.41
Consensus EPS$4.83
Beat/MissBeat by +$0.57
One Year Ago EPS$2.87
MX:CSGP Q2 2026 Revenue Results
Actual Revenue$15.64B
Expected Revenue$15.70B
Beat/MissMissed by -$64.38M
YoY Revenue Growth+18.39%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:CSGP Upcoming Earnings
CoStar Group's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CSGP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong profitability and margin expansion (record/near-record adjusted EBITDA, 20% EBITDA margin, and disciplined cost control) alongside robust product launches, subscriber growth, and segment-level turnarounds (residential achieving positive adjusted EBITDA). Key challenges include a notable year-over-year decline in net new bookings, the Ten-X restructuring that trimmed near-term revenue, and competitive and macro pressure in multifamily that pressured mix and ARPU. Management prioritized profitable growth — trading some near-term revenue growth for improved margins and efficiency — and affirmed full-year EBITDA guidance while revising revenue guidance downward. Overall, positive operational and financial momentum outweighs the near-term booking and revenue headwinds.Company Guidance
Record Revenue Growth and Consistent Double-Digit Streak
Total revenue of $925 million in Q2 2026, up 18% year-over-year; marks the company's 61st consecutive quarter of double-digit revenue growth. First-half revenue $1.82 billion, up 20% year-over-year with roughly half organic.
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA of $184 million in Q2 (20% margin), more than doubled year-over-year by company commentary and a 900 basis point increase in adjusted EBITDA margin YoY; sequential adjusted EBITDA increased 39% from $132M in Q1 to $184M in Q2. Company reaffirmed full-year adjusted EBITDA guidance of $780M–$820M and expects the highest full-year adjusted EBITDA in company history.
Commercial Segment Profitability and Subscriber Momentum
Commercial revenue $481 million, up 8% YoY; commercial adjusted EBITDA $172 million (36% margin), up 7% YoY. CoStar platform revenue $337 million, up 9% YoY with subscribers up 19% YoY to 327,000; contract renewal rates ~93% and NPS ~68; net new bookings to brokers up 48% YoY.
Debt Solutions Rapid Growth and Scale
CoStar Debt Solutions recorded its best quarter with over $4 million in net new monthly bookings (up 96% YoY). Platform aggregates anonymized data from ~300 lender clients covering 100,000+ active loans and ~$1.2 trillion in outstanding debt.
Residential Segment Acceleration and Apartments.com Strength
Residential revenue ~$444 million in Q2, up 33% YoY. Apartments.com revenue $318 million, up 9% YoY; nearly 93,000 paid properties (up 12% YoY) with 99% monthly renewal rates. Lead-to-lease conversion advantage: Apartments.com leads convert at ~2.5x the next competitor.
Homes.com Rapid User and Monetization Momentum
Homes.com revenue $28.5 million in Q2, up 66% YoY; annualized run rate ~$116 million (up 78% YoY). Agent subscribers 36,000 (up 107% YoY); average subscriber price $305 in June; monthly cancel rate down to 2.4% (from 6.5% in June '25). Organic traffic up 115% YTD and session duration +52% YoY in June.
Product and Geographic Expansion
Launched CoStar Rent Benchmark (4 million AI-abstracted leases), CoStar launch in France (coverage across major cities and 290K+ properties), UK public-record search (6.9M titles), AI lease abstraction in Real Estate Manager, and progress toward Australia launch with 124 researchers and 30,000 listings on the ground.
Matterport and LoopNet Progress
Matterport subscription revenue grew ~16% YoY; best-ever month of enterprise customer acquisition in June and new pricing to shift revenue mix toward SaaS. LoopNet revenue $87 million, up 14% YoY; paid listings +9% in U.S., +24% in Canada and +52% in U.K.; European monthly unique visitors +88%.
Disciplined Cost Management and Capital Actions
Operating cost increase held to ~2% YoY while investing in growth initiatives; company reduced projected 2026 expense base by roughly $100 million. Repurchased 2.4 million shares for $82.1 million in Q2 (YTD 13.75M shares for $587M) and expects ~$700 million in 2026 buybacks.
Operational and Strategic Milestones
Delivered consolidated headquarters on schedule and under budget; Zonda acquisition announced (expected close H2 2026) to add new-home construction data; promoted internal CFO with proven margin improvement track record.
MX:CSGP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed