Categories Earnings

Cars.com Q4 2017 earnings snapshot

Online auto portal Cars.com (CARS) reported fourth quarter results. Revenue slipped 3% to $156.6 million due to reduction in ad spending. Net income more than tripled to $151.8 million, thanks to the recent tax reforms which brought in $131 million as tax benefits. However, operating expenses surged $4.9 million, mainly due to increase in G&A expenses.

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

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.

Most Popular

Should investors worry about Micron’s (MU) weak Q4 results and guidance?

The semiconductor industry is a rapidly growing business segment that currently thrives on the digital transformation wave. The demand for memory chips and other semiconductor products increased over the years,

What has Bed Bath & Beyond (BBBY) outlined for this fiscal year?

Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up on Friday, a day after the company delivered disappointing results for the second quarter of 2022. The company reported a

NKE Earnings: Highlights of Nike’s Q1 2023 results

Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company's stock suffered a big loss

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top