CarGurus

Cargurus, Inc. engages in the provision of online auto shopping. The firm offers proprietary technology, search algorithms and data analytics to analyze new and used car listings. It operates through the following segments: United States and International. The United States segment derives revenues from marketplace subscriptions, advertising services and other revenues from customers within the United States. The International segment includes the revenues from marketplace subscriptions, advertising services and other revenues from customers outside of the United States. The company was founded by Langley Steinert on November 10, 2005 and is headquartered in Cambridge, MA.

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CarGurus surpasses Q4 expectations amidst market challenges, eyes 2023 growth

CarGurus navigated challenges in the automotive market, exceeding forecasted guidance with record marketplace revenue and gross profit.
Management's optimism about core business strength, lead quality, and innovation in digital offerings positions the company for growth in 2023.
Operational efficiency, financial stability, and proactive management strategies are key strengths driving CarGurus' performance.
Addressing challenges in CarOffer optimization and market dynamics presents opportunities for sustainable growth and revenue optimization.

CarGurus exceeds revenue forecasts, focuses on digital growth strategies

CarGurus showcased strong financial performance in Q1 2023, with a focus on operational excellence and profitability. Despite challenges like low inventory levels, the company's strategic initiatives such as Digital Deal and brand ad campaigns position it well for growth and market expansion.

CarGurus exceeds Q2 earnings expectations, eyes pricing strategies for growth

CarGurus delivered strong financial performance in Q2 2023, showcasing operational efficiency and revenue growth in the Marketplace segment. While facing challenges in the Wholesale market and macroeconomic factors, the company is focused on seizing opportunities to drive future growth through pricing strategies and product enhancements.

CarGurus surpasses Q3 earnings expectations, eyes growth amid challenges

CarGurus delivered strong financial results, exceeding EBITDA guidance and showcasing operational efficiency
Introduction of new products and focus on premium packages position CarGurus for continued growth
Challenges like declining wholesale prices and market uncertainties require strategic adjustments
Opportunities in subscription models and consumer behavior changes present avenues for market expansion

CarGurus excels in Q4 2023 with strong financial growth and innovative products

CarGurus demonstrated robust financial performance in Q4 2023, marked by profitability, revenue growth, and enhanced product offerings through AI-driven tools and innovative products.
While facing challenges in scaling successes and balancing financial discipline with growth investments, the company remains well-positioned to capitalize on opportunities in subscription offerings, ad revenue, and dealer value-add services.
Overall, CarGurus' strategic focus on monetization, customer experience, and market expansion sets a positive trajectory for continued growth and success in the automotive marketplace.

CarGurus reports strong Q1 earnings and focuses on data-driven growth

CarGurus reported strong Q1 performance with revenue meeting expectations and EBITDA growing by 24% YoY. The company's focus on enhancing dealer and consumer experience through data insights and product capabilities is driving growth and innovation.
Despite challenges such as elevated marketing expenses and managing data volume growth, CarGurus is well-positioned to capitalize on opportunities in leveraging data insights, driving growth in international markets, and optimizing customer results.
With an optimistic Q2 revenue guidance, strategic initiatives in place for profitable growth, and a commitment to innovation and market leadership, CarGurus is poised for continued success in the automotive marketplace.

CarGurus reports robust Q2 earnings, eyes growth through enhanced tech

CarGurus demonstrated strong financial performance in Q2 2024, with revenue meeting expectations and non-GAAP consolidated adjusted EBITDA up by 23% year-over-year.
The company's focus on enhancing the consumer experience through AI initiatives and app improvements is driving increased engagement and retention.
Challenges lie in maintaining operational excellence, navigating market dynamics, and adapting to evolving consumer preferences.
CarGurus has opportunities to capitalize on the shift towards larger dealers, expand its transaction-enabled platform, and explore new markets for growth.

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Cargurus, Inc. is an online automotive platform, which engages in buying and selling vehicles that is building upon its listings marketplace with digital retail solutions and the CarOffer digital wholesale platform. It operates through the following segments: U.S. Marketplace, Digital Wholesale, and Other. The U.S. Marketplace segment offers marketplace services from customers. The Digital Wholesale segment consists of dealer-to-dealer and IMCO services and products which are sold on the CarOffer platform. The company was founded by Langley Steinert on November 10, 2005 and is headquartered in Boston, MA.

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The UAW, or United Auto Workers, is a prominent labor union in the United States that primarily represents workers in the automotive and related industries. Founded in 1935, the UAW is one of the largest labor unions in the country and has nearly one million members.

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NEW YORK , Aug. 28, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of CarGurus, Inc. ("CarGurus" or the "Company") (NASDAQ: CARG). Such investors are advised to contact Robert S.

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Don't Like Carvana? You Might Love CarGurus

CarGurus, Inc. (NASDAQ:CARG ) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET Company Participants Kirndeep Singh - VP and Head, Investment Jason Trevisan - CEO Sam Zales - President and COO Conference Call Participants Chris Pierce - Needham Jed Kelly - Oppenheimer Brad Erickson - RBC Capital Markets Naved Khan - B. Riley Securities John Colantuoni - Jefferies Marvin Fong - BTIG Ron Josey - Citi Nick Jones - JMP Securities Operator Good day and welcome to the CarGurus' Second Quarter 2023 Earnings Conference Call.

CarGurus, Inc. (CARG) Q2 2023 Earnings Call Transcript

While the top- and bottom-line numbers for CarGurus (CARG) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

CarGurus (CARG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

CarGurus (CARG) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.32 per share a year ago.

CarGurus (CARG) Beats Q2 Earnings and Revenue Estimates

GAAP consolidated net income was $13.8 million; Consolidated Adjusted EBITDA was $45.2 million, exceeding high-end of guidance range Digital Wholesale demonstrated ongoing efficiency in operating metrics Digital Deal adoption reaches 2,900 dealers with over 250,000 digitally-enabled listings Marketplace growth expected to accelerate for remainder of 2023

CarGurus Announces Second Quarter 2023 Results

CAMBRIDGE, Mass., Aug. 07, 2023 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the second quarter ended June 30th, 2023, after the close of the market on August 9th, 2023.

CarGurus To Report Second Quarter 2023 Financial Results

Shares of CarGurus Inc. CARG, -3.89% dropped nearly 6% in the extended session Thursday after the online car marketplace postponed its second quarter earnings release and conference call with analysts scheduled for after the bell on Thursday. “CarGurus has not completed its customary quarterly closing and review procedures” for the quarter, the company said.

CarGurus stock tanks 6% after online car marketplace delays earnings report

CAMBRIDGE, Mass., Aug. 03, 2023 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that it will delay its second quarter 2023 earnings release and conference call, previously scheduled for 5:00 p.m. Eastern Time on August 3, 2023. CarGurus has not completed its customary quarterly closing and review procedures for the three months ended June 30, 2023. CarGurus will announce the date of the rescheduled earnings release and conference call in a subsequent press release.

CarGurus Delays Earnings Release and Conference Call

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CarGurus (CARG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Can CarGurus (CARG) Keep the Earnings Surprise Streak Alive?

Gupta brings product leadership and vision scaling global platforms to Board position with the nation's most visited automotive shopping site1

CarGurus Announces Appointment of Manik Gupta to Board of Directors

CarGurus (CARG) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Earnings Estimates Moving Higher for CarGurus (CARG): Time to Buy?

The most visited automotive shopping site in the U.S.¹ builds on its artificial intelligence (AI) capabilities to help shoppers discover their best-fit next car with greater ease The most visited automotive shopping site in the U.S.¹ builds on its artificial intelligence (AI) capabilities to help shoppers discover their best-fit next car with greater ease

CarGurus Further Enhances Automotive Search and Shopping with Introduction of ChatGPT Plugin

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Why Its Worth Taking a Closer Look at the Automotive Aftermarket

One year after launch, Digital Deal is one of CarGurus' fastest-growing innovations, supporting dealer goals for sales velocity and improved customer satisfaction by delivering leads that are up to 5.3x more likely to close(1) One year after launch, Digital Deal is one of CarGurus' fastest-growing innovations, supporting dealer goals for sales velocity and improved customer satisfaction by delivering leads that are up to 5.3x more likely to close(1)

Dealer Demand to Connect More Efficiently with Digitally-Driven Shoppers Fuels Success of CarGurus Digital Retail Solution

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U.S. stocks appear headed for a flat open, but keep an eye peeled Monday for Dish, Gannett, Palo Alto Networks, CarGurus and others

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These top-ranked stocks are likely to beat on bottom line in their next releases. Tap CarGurus (CARG) and Toll Brothers (TOL).

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Can CarGurus (CARG) Run Higher on Rising Earnings Estimates?

CarGurus remained profitable even as sales slumped. Investors are bracing for a tough 2023, followed by a rebound next year.

Why CarGurus Stock Was Up This Week

Revenue fell by nearly 50% in Q1. CarGurus remained profitable and is calling for steady earnings results in Q2.

News for CarGurus Stock (CARG)