CoStar Defends Reporting Changes Amid Criticism on Homes.com Performance

CoStar Group is pushing back against criticism that it has made the performance of Homes.com harder for investors to track. The dispute stems from concerns raised by hedge fund D. E. Shaw & Co. after the company changed how it reports financial segments. In comments provided to Propmodo, a CoStar spokesperson said the claims are “misleading” and defended the company’s decision to reorganize its reporting structure.

Background

The controversy began after CoStar Group altered its financial reporting structure, prompting concerns from investors and hedge funds, including D. E. Shaw & Co.