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CarGurus: 4Q Earnings Snapshot

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CAMBRIDGE, Mass. (AP) _ CarGurus Inc. (CARG) on Thursday reported fourth-quarter net income of $25.2 million.

On a per-share basis, the Cambridge, Massachusetts-based company said it had net income of 22 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, 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 27 cents per share.

The online auto shopping platform posted revenue of $151.6 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $148.6 million.

For the year, the company reported profit of $77.6 million, or 68 cents per share. Revenue was reported as $551.5 million.

For the current quarter ending in April, CarGurus expects its per-share earnings to range from 21 cents to 23 cents.

The company said it expects revenue in the range of $156 million to $160 million for the fiscal first quarter.

CarGurus shares have increased 9.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $34.73, a climb of slightly more than 4% in the last 12 months.

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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