CarGurus (CARG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
In This Article:
For the quarter ended June 2023, CarGurus (CARG) reported revenue of $239.74 million, down 53.1% over the same period last year. EPS came in at $0.29, compared to $0.32 in the year-ago quarter.
The reported revenue represents a surprise of +4.25% over the Zacks Consensus Estimate of $229.97 million. With the consensus EPS estimate being $0.23, the EPS surprise was +26.09%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how CarGurus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
-
Paying Dealers - Total: 31097 compared to the 31332.5 average estimate based on two analysts.
-
Revenue- Marketplace: $170.95 million versus $168.75 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
-
Revenue- Wholesale: $31.95 million compared to the $30.87 million average estimate based on two analysts. The reported number represents a change of -57.9% year over year.
-
Revenue- Product: $36.84 million compared to the $32.75 million average estimate based on two analysts. The reported number represents a change of -86.4% year over year.
View all Key Company Metrics for CarGurus here>>>
Shares of CarGurus have returned -14.6% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CarGurus, Inc. (CARG) : Free Stock Analysis Report