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CarGurus (CARG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

CarGurus (CARG) reported $215.8 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 7%. EPS of $0.32 for the same period compares to $0.26 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $217.29 million, representing a surprise of -0.69%. The company delivered an EPS surprise of +10.34%, with the consensus EPS estimate being $0.29.

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.

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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: 31,175 versus 31,011 estimated by three analysts on average.

  • Paying Dealers - U.S: 24,419 compared to the 24,356 average estimate based on two analysts.

  • Paying Dealers - International: 6,756 compared to the 6,655 average estimate based on two analysts.

  • Revenue- Marketplace: $187.20 million versus the three-analyst average estimate of $185.57 million. The reported number represents a year-over-year change of +12%.

  • Revenue- Wholesale: $16.10 million compared to the $18.64 million average estimate based on three analysts. The reported number represents a change of -36.1% year over year.

  • Revenue- Product: $12.50 million versus the three-analyst average estimate of $13.85 million. The reported number represents a year-over-year change of -68.5%.

View all Key Company Metrics for CarGurus here>>>

Shares of CarGurus have returned -2.2% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research