BOSTON (AP) — BOSTON (AP) — CarGurus Inc. (CARG) on Thursday reported fourth-quarter net income of $49.8 million.
On a per-share basis, the Boston-based company said it had net income of 51 cents. Earnings, adjusted for stock option expense and to account for discontinued operations, came to 63 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The online auto shopping platform posted revenue of $241.1 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $238.3 million.
For the year, the company reported profit of $155.9 million, or $1.55 per share. Revenue was reported as $907 million.
For the current quarter ending in March, CarGurus expects its per-share earnings to range from 52 cents to 58 cents.
The company said it expects revenue in the range of $240.5 million to $245.5 million for the fiscal first quarter.
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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
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