CarGurus: 2Q Earnings Snapshot

August 7, 2018

CAMBRIDGE, Mass. (AP) _ CarGurus Inc. (CARG) on Tuesday reported second-quarter earnings of $31.3 million.

On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of 28 cents. Earnings, adjusted for pretax gains, were 6 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The online auto shopping platform posted revenue of $110.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $103.8 million.

For the current quarter ending in October, CarGurus expects its per-share earnings to range from 4 cents to 5 cents.

The company said it expects revenue in the range of $112 million to $113 million for the fiscal third quarter.

CarGurus expects full-year earnings in the range of 22 cents to 23 cents per share, with revenue ranging from $436 million to $438 million.

CarGurus shares have increased 52 percent since the beginning of the year.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CARG at https://www.zacks.com/ap/CARG

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