CarGurus: Q2 Earnings Snapshot
By AP News
Published - Aug 08, 2024, 05:02 PM ET
Last Updated - Aug 08, 2024, 05:02 PM EDT
CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — CarGurus Inc. (CARG) on Thursday reported a second-quarter loss of $68.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 66 cents. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The online auto shopping platform posted revenue of $218.7 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $214.9 million.
