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CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — CarGurus Inc. (CARG) on Tuesday reported fourth-quarter net income of $159.2 million, after reporting a loss in the same period a year earlier.
The Cambridge, Massachusetts-based company said it had net income of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The online auto shopping platform posted revenue of $286.7 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $279.3 million.
For the year, the company reported net income of $193.8 million, or 62 cents per share, swinging to a profit in the period. Revenue was reported as $1.66 billion.
For the current quarter ending in March, CarGurus expects its per-share earnings to range from 17 cents to 19 cents.
The company said it expects revenue in the range of $195 million to $215 million for the fiscal first quarter.
CarGurus shares have risen 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.05, a fall of 65% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CARG">Zacks stock report on CARG at https://www.zacks.com/ap/CARG