CarGurus: Q1 Earnings Snapshot

CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — CarGurus Inc. (CARG) on Thursday reported first-quarter earnings of $21.3 million.

On a per-share basis, the Cambridge, Massachusetts-based company said it had net income of 20 cents. Earnings, adjusted for one-time gains and costs, came to 32 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The online auto shopping platform posted revenue of $215.8 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $217.3 million.

For the current quarter ending in June, CarGurus expects its per-share earnings to range from 29 cents to 34 cents.

The company said it expects revenue in the range of $202 million to $222 million for the fiscal second quarter.

CarGurus shares have dropped almost 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.28, a climb of 36% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on CARG at

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