Published: November 2, 2023 at 8:10am ET
Cars.com’s CARS stock rose 2.3% in premarket trading Thursday as the online auto marketplace turned profitable in the third quarter. The company reported third-quarter net income of $4.5 million, or 7 cents per share, compared to a net loss of $2.9 million, or 4 cents per share, in the year-ago period. Sales increased 6% year over year to $174.3 million. Analysts surveyed by FactSet expected Cars.com to report earnings of 35 cents a share on revenue of $172.8 million. Cars.com expects fourth-quarter sales of $177 million to $179 million, compared to analysts’ expectations of $177.3 million. Cars.com’s stock price will rise by 9.3% in 2023.
Cars.com Co., Ltd.
car
Shares rose 2.3% in pre-market trading Thursday as the online auto marketplace turned profitable in the third quarter. The company reported third-quarter net income of $4.5 million, or 7 cents per share, compared to a net loss of $2.9 million, or 4 cents per share, in the year-ago period. Sales increased 6% year over year to $174.3 million. Analysts surveyed by FactSet expected Cars.com to report earnings of 35 cents a share on revenue of $172.8 million. Cars.com expects fourth-quarter sales of $177 million to $179 million, compared to analysts’ expectations of $177.3 million.Cars.com stock price will rise 9.3% in 2023 compared to the S&P 500 Index
SPX
10.4% increase.