Key Metrics
Monthly unique visitors remained flat vs. prior year period, while site visits dropped 2% to 89.3 million. Site traffic via mobile improved 6%, which accounts now for 60% of overall site traffic. On the dealer front, the company had 21,296 customers; average vehicle listings inched up 1% to 4.9 million.
Acquisition Update
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The company also updated that it has closed the Dealer Inspire and Launch Digital Marketing acquisition. It’s worth noting that the auto portal acquired these two companies for $161 million last month.
2018 Outlook
Cars.com now believes its revenue to increase in the range of 10% to 11% in fiscal 2018. It also expects the two acquisitions to contribute $45 million to the top line.