CarGurus: Q2 Earnings Snapshot
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.
For the current quarter ending in September, CarGurus expects its per-share earnings to range from 38 cents to 44 cents.
The company said it expects revenue in the range of $212 million to $232 million for the fiscal third quarter.
CarGurus shares have fallen slightly more than 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.40, an increase of 15% in the last 12 months.
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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