CARG - CarGurus shares climbs after Q3 tops estimates upside revenue outlook
CarGurus (NASDAQ:CARG) up 4% after yesterday's third quarter results beat top and bottom-line estimates. Revenue jumped 51% on the year to $222.9M, above the consensus of $217.84M. Adjusted EPS topped estimates by five cents. Marketplace subscription revenue grew 10% year-over-year to $134.3M. U.S. revenue rose 53% $211.6M and International revenue grew 25% to $11.4M. Non-GAAP operating margin rate was 28.0% vs. 37.0% in last year's quarter. Total paying dealers grew 2% year-over-year to 30,754. Of the total paying dealers U.S. accounted for 23,979 and International for 6,775. Quarterly Average Revenue per Subscribing Dealer in the U.S. up 9% to $5,602 as of September 30, 2021. U.S. average monthly unique users fell 25% to 28.8M. U.S. average monthly sessions down 25% to 71.2M. International average monthly unique users decreased 4% to 7.8M. International average monthly sessions slipped 6% to 17.1M. As of September 30, 2021, CarGurus (CARG) had cash, cash equivalents and short-term investments of
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CarGurus shares climbs after Q3 tops estimates, upside revenue outlook