In This Article:
CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — CarGurus Inc. (CARG) on Thursday reported fourth-quarter net income of $45.9 million, after reporting a loss in the same period a year earlier.
The Cambridge, Massachusetts-based company said it had profit of 43 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 55 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The online auto shopping platform posted revenue of $228.5 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $230.4 million.
For the year, the company reported profit of $21 million, or 20 cents per share. Revenue was reported as $894.4 million.
For the current quarter ending in March, CarGurus expects its per-share earnings to range from 41 cents to 47 cents.
The company said it expects revenue in the range of $216 million to $236 million for the fiscal first quarter.
CarGurus shares have risen nearly 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.59, a rise of 64% 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