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News Corp in talks to sell Realtor.com Parent Move to CoStar

News Corp in talks to sell Realtor.com Parent Move to CoStar
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CoStar Profits Up, But Apartment Advertising Demand Dips

With apartment vacancy at a historic low, demand for listings has begun to weaken, generating headwinds for Apartments.com.

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CoStar Profits Soar Q1 2021 Earnings


CoStar generated $458 million in first-quarter revenue, up 18 percent year-over-year.
Across all of its businesses, the company said it generated $52 million in net new bookings during the first quarter, a 10 percent year-over-year jump. LoopNet ad revenue grew 50 percent during the first quarter, while Apartments.com ad revenue jumped 21 percent. For Ten-X, CoStar’s auction site, the number of bidders per auction surged 68 percent year-over-year.
As a part of its push into the residential sector, CoStar recently acquired Homesnap for $250 million. The app and technology provider, which caters to residential real estate agents, saw pro forma revenue grow 40 percent during the first quarter, Florance said.

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