CarGurus: 2Q Earnings Snapshot
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.