Cars.com Inc is a comprehensive online automotive marketplace that connects car buyers and sellers, offering a platform for new and used vehicle listings, dealer services, and consumer resources
The company provides a suite of tools and services designed to simplify the car shopping experience, including reviews, research materials, and financing options. By leveraging technology and data-driven insights, Cars.com helps users make informed decisions throughout the car purchasing process while also assisting dealerships in reaching a wider audience and enhancing their online presence.
Shares of online new and used car marketplace Cars.com (NYSECARS) fell 20.3% in the afternoon session after the company reported weak fourth-quarter results, with full-year revenue guidance slightly missing expectations and next quarter's revenue guidance falling short of Wall Street's estimates. Revenue for the quarter was essentially flat year-on-year, reflecting a decline in dealer subscription sales. Despite the revenue slowdown, Cars.com narrowly exceeded analysts' EBITDA expectations, indicating a better handle on profits.
Overall, this was a weaker quarter, with revenue growth stagnating even as cost controls helped sustain profits.
Online new and used car marketplace Cars.com (NYSECARS) fell short of the market’s revenue expectations in Q4 CY2024, with sales flat year on year at $180.4 million. Next quarter’s revenue guidance of $179.5 million underwhelmed, coming in 3.8% below analysts’ estimates. Its GAAP profit of $0.26 per share was 95.2% above analysts’ consensus estimates.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the online marketplace industry, including Cars.com (NYSECARS) and its peers.
Wrapping up Q3 earnings, we look at the numbers and key takeaways for the online marketplace stocks, including ACV Auctions (NASDAQACVA) and its peers.
When it comes to used cars in the United States, CarMax Inc. (NYSEKMX) stands out as the largest used car dealership. The auto/tires/trucks sector giant opera
Cars.com has been treading water for the past six months, recording a small loss of 4.3% while holding steady at $18.50. The stock also fell short of the S&P 500’s 12.7% gain during that period.
Online new and used car marketplace Cars.com (NYSECARS) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 3.1% year on year to $179.7 million. Its GAAP profit of $0.28 per share was 352% above analysts’ consensus estimates.
Investor risk sentiment is showing greater conviction on Thursday, with all indices and major stock sectors in the green, after Wall Street failed to hold onto opening gains and closed in the red the previous day.
U.S. stocks are set for a mixed start on Thursday as concerns regarding the economy and incremental yen carry trade unwinding remain an undercurrent. Traders may be keen to receive the jobless claims report, given the recent sell-off kickstarted last Thursday, partly due to a spike in the data.
