BOSTON (AP) — BOSTON (AP) — CarGurus Inc. (CARG) on Thursday reported third-quarter net income of $44.7 million.
On a per-share basis, the Boston-based company said it had profit of 45 cents. Earnings, adjusted for stock option expense and restructuring costs, came to 57 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The online auto shopping platform posted revenue of $238.7 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $235.7 million.
For the current quarter ending in December, CarGurus expects its per-share earnings to range from 61 cents to 67 cents.
The company expects full-year earnings in the range of $2.19 to $2.25 per share.
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