Welcome to our dedicated page for Cargurus news (Ticker: CARG), a resource for investors and traders seeking the latest updates and insights on Cargurus stock.
CarGurus Inc (Nasdaq: CARG) operates a leading online automotive marketplace connecting buyers with dealers through data-driven insights. This page aggregates official company announcements, financial updates, and market developments.
Access real-time updates including quarterly earnings reports, strategic partnerships, product innovations, and leadership changes. Investors will find filings, operational milestones, and industry analyses while dealers and consumers can track platform enhancements.
All press releases are sourced directly from CarGurus' corporate communications. Content spans earnings disclosures, technology initiatives, expansion updates, and corporate responsibility efforts. Bookmark this page for verified information supporting informed decisions about CARG's market position.
CarGurus (CARG) reported Q2 2024 results, with Marketplace revenue growing 14% YoY to $195.2 million. However, the company faced challenges in its Digital Wholesale segment, resulting in a consolidated GAAP Net Loss of $68.7 million. Despite this, Non-GAAP Adjusted EBITDA increased by 23% YoY to $55.6 million. Key highlights include:
- Total revenue decreased 9% YoY to $218.7 million
- Gross profit increased 11% YoY to $182.4 million
- U.S. QARSD (Quarterly Average Revenue per Subscribing Dealer) grew 14% to $6,942
- Total Paying Dealers increased 1% to 31,352
CarGurus repurchased $61 million worth of shares in Q2, representing 2.5% of outstanding capital. The company provided Q3 2024 guidance, projecting total revenue between $212-$232 million and Non-GAAP Adjusted EBITDA of $56-$64 million.
CarGurus (Nasdaq: CARG), the leading digital auto platform for vehicle transactions, has announced its plans to release Q2 2024 financial results on August 8, 2024, after market close. The company will host a conference call and live webcast at 5:00 p.m. Eastern Time on the same day to discuss the results with investors and analysts.
Interested parties can access the call by dialing (844) 826-3035 (U.S./Canada) or (412) 317-5195 (international). The webcast will be available on CarGurus' Investors website. An audio replay will be accessible from 8:00 p.m. Eastern Time on August 8 until August 22, 2024, using the provided dial-in numbers and passcode 10189905. An archived webcast will also be available on the company's Investors page.
CarGurus, a leading digital auto platform, released its 2024 Mid-Year Review highlighting affordability opportunities in the automotive market.
Used car prices have dropped to an average of $28,496, down 8% year-over-year, while new car prices average $50,214, down 3.3%. Inventory levels have surged, with new car availability up 68% and used inventory up 5% year-over-year.
Notably, there is a rising demand for more affordable vehicles. Searches for used cars under $10,000 increased by 26%, and searches for new cars under $30,000 rose by 36%. Sedans, 2023 models, and electric vehicles present significant savings opportunities. States like New York, Florida, and Maryland offer the most affordable used car options.
CarGurus, the leading digital auto platform for new and used vehicles, announced that CEO Jason Trevisan will participate in a fireside chat at William Blair’s 44th Annual Growth Stock Conference.
The event is scheduled for June 4, 2024, at 2:20 PM ET. A live webcast will be available on the company's Investor Relations page, with the presentation archived for 30 days.
CarGurus, Inc. (Nasdaq: CARG) announced that its CEO will participate in a fireside chat at the J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference on May 20, 2024. The webcast will be available on the company's Investor Relations page.
CarGurus, Inc. (Nasdaq: CARG) announced first quarter 2024 financial results with marketplace revenue and QARSD growth up 12% and 14% YoY respectively. Net income increased by 80%, reaching $21.3 million. The company repurchased $81.1 million worth of shares in the quarter. The CEO expressed satisfaction with the sustained revenue growth and deepened connections with consumers and dealers.
FAQ
What is the current stock price of Cargurus (CARG)?
What is the market cap of Cargurus (CARG)?
