CarGurus: Q3 Earnings Snapshot

CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — CarGurus Inc. (CARG) on Tuesday reported third-quarter profit of $22.3 million.

On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of 17 cents. Earnings, adjusted for one-time gains and costs, came to 34 cents per share.

The results topped 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 $219.4 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $215.6 million.

For the current quarter ending in December, CarGurus expects its per-share earnings to range from 30 cents to 33 cents.

The company said it expects revenue in the range of $208 million to $228 million for the fiscal fourth quarter.

CarGurus expects full-year earnings in the range of $1.19 to $1.22 per share, with revenue ranging from $899 million to $919 million.

CarGurus shares have increased 31% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.36, a rise of 29% 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