CARS Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Inc. (CARS) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $0.78 million, or $0.01 per share. This compares with $11.48 million, or $0.17 per share, in last year's first quarter.

Excluding items, Inc. reported adjusted earnings of $28.66 million or $0.43 per share for the period.

Analysts on average had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.8% to $180.18 million from $167.07 million last year. Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $0.78 Mln. vs. $11.48 Mln. last year. -EPS (Q1): $0.01 vs. $0.17 last year. -Revenue (Q1): $180.18 Mln vs. $167.07 Mln last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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