RDN - EverQuote Q1 Earnings Top Estimates Revenues Fall Y/Y | Benzinga
EverQuote (NASDAQ: EVER) delivered first-quarter 2024 earnings per share of 5 cents in contrast to the Zacks Consensus Estimate of a loss of 7 cents as well as the year-ago quarter's loss of 8 cents per share.
Though the top line of $91 million declined 16.5% year over year, it beat the Zacks Consensus Estimate by 12.8%.
Both the metrics exceeded expectations, likely reflecting the early stages of auto carrier recovery.
EverQuote, Inc. Price, Consensus and EPS Surprise
Behind the Headlines
Revenues from the Automotive insurance vertical were $77.5 million, down 13.6% year over year. The Zacks Consensus Estimate was pegged at $67 million. Our estimate was $64.6 million.
Revenues in the Home and Renters insurance vertical totaled $12.7 million, which increased 34.2% year over year. The Zacks Consensus Estimate was pegged at $13.3 million. Our estimate was $15.3 million.
Revenues in the Other insurance vertical totaled $0.1 million, which plunged 16.3% year over year.
Total costs and operating expenses decreased 20% to $89.3 million, mainly due to the cost of revenues and lower sales and marketing, general and administrative and research and development expenses. Our estimate was $77.5 million.
EverQuote's variable marketing margin decreased 13.4% year over year in the quarter under review to $30.8 ...