CarGurus Reports Strong Q3 Earnings, Beating Expectations

CarGurus, a leading online automotive marketplace, has announced its financial results for the third quarter. The company reported a Non-GAAP earnings per share (EPS) of $0.45, which exceeded analysts' expectations by $0.02.

In addition to its earnings, CarGurus also reported revenue of $231.4 million. This figure is up 5.5% year over year and surpasses expectations by $7.86 million.

The positive news pushed CarGurus' shares up by 9.41% in after-hours trading, highlighting investor confidence in the company’s performance and future prospects.

Fourth Quarter and Full-Year 2024 Guidance

The company has provided guidance for the fourth quarter and the full year of 2024. This guidance is based on the latest market trends and the current state of the automotive industry, indicating that CarGurus is optimistic about its future growth.

Conclusion

CarGurus' strong earnings and revenue figures demonstrate the company's resilience and ability to perform well in a competitive market. Investors will be keeping a close eye on the upcoming quarters to see if the positive trends continue and if CarGurus can maintain its upward trajectory.

Earnings, Revenue, Growth