CARG - Why CarGurus Shares Are Declining Today | Benzinga
CarGurus, Inc. (NASDAQ:CARG) shares are trading lower after it reported fourth-quarter FY23 financial results.
On Monday, the company reported that total revenues declined 22% Y/Y to $223.1 million, beating the consensus of $220.05 million.
U.S. Marketplace Segment revenue rose 9% Y/Y to $168.9 million, while Digital Wholesale Segment revenue fell 66% Y/Y to $40.9 million.
Total Paying Dealers fell 1% Y/Y to 30,935, and transactions declined 26% Y/Y to 13,558 in the quarter.
Adjusted gross profit rose to $175.1 million ...