CarGurus: 3Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ CarGurus Inc. (CARG) on Tuesday reported third-quarter profit of $10.4 million.
The Cambridge, Massachusetts-based company said it had profit of 9 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 14 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The online auto shopping platform posted revenue of $150.5 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $148.2 million.
For the current quarter ending in December, CarGurus expects its per-share earnings to range from 12 cents to 13 cents.
The company said it expects revenue in the range of $152.2 million to $155.2 million for the fiscal fourth quarter.
CarGurus expects full-year earnings in the range of 47 cents to 48 cents per share, with revenue ranging from $583 million to $586 million.
CarGurus shares have risen slightly since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.82, a decrease of 21% in the last 12 months.