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CarGurus: 1Q Earnings Snapshot

CAMBRIDGE, Mass. (AP) _ CarGurus Inc. (CARG) on Thursday reported first-quarter earnings of $12.6 million.

On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of 11 cents. Earnings, adjusted for stock option expense and amortization costs, came to 12 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The online auto shopping platform posted revenue of $135.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $130 million.

For the current quarter ending in July, CarGurus expects its per-share earnings to range from 6 cents to 8 cents.

The company said it expects revenue in the range of $138 million to $141 million for the fiscal second quarter.

CarGurus expects full-year earnings in the range of 39 cents to 43 cents per share, with revenue ranging from $569 million to $578 million.

CarGurus shares have climbed 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $39.96, a rise of 21% in the last 12 months.


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