BOSTON (AP) — BOSTON (AP) — CarGurus Inc. (CARG) on Thursday reported second-quarter net income of $49.2 million.
On a per-share basis, the Boston-based company said it had net income of 54 cents. Earnings, adjusted for stock option expense and asset impairment costs, came to 66 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The online auto shopping platform posted revenue of $251 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $249.4 million.
For the current quarter ending in September, CarGurus expects its per-share earnings to range from 63 cents to 69 cents.
The company said it expects revenue in the range of $253.5 million to $258.5 million for the fiscal third quarter.
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