Commercial property data giant CoStar Group has notched another stellar quarter

In late October, Bethesda, Md.-based CoStar Group announced revenues of $40.3 million for the third quarter, up 21.6% from the same period in 2006. Net income increased by 177% from $1.2 million in the second quarter thanks to added growth in CoStar’s core subscription business. “CoStar Group made significant investments over the last four quarters to expand our market coverage in the U.S., to grow the sales force and improve product quality,” says Andrew Florance, CEO and president of CoStar Group. Non-subscription services accounted for less than 5% of CoStar’s third-quarter revenues. CoStar is the largest data company devoted exclusively to commercial property sector.