CARG - CarGurus stock climbs 13% premarket on strong earnings bright outlook

CarGurus (NASDAQ:CARG) stock climbed 13% premarket after the online automotive platform reported Q4 results that beat Street estimates. CARG projects Q1 non-GAAP EPS $0.31-0.33 vs. consensus estimate of $0.33. Q1 total revenue is expected to be $390M-410M, well above consensus estimate of $302.22M. U.S. revenue was $327.9M in Q4, more than double vs. Q4 2020. International revenue grew 45% to $11.5M. Quarterly average revenue per subscribing dealer (QARSD) in the U.S. was $5.6K as of Dec. 31, up 6% Y/Y. QARSD in international markets was $1.5K as of Dec. 31, up 46% Y/Y. As of Dec. 31, CARG had cash, cash equivalents and short-term investments of $321.9M and no debt. "We're pleased with our Q4 results for the automotive industry faced numerous challenges and unknowns in 2021. Due to the semiconductor chip shortage, we remain nimble and quickly provided solutions to help combat the difficulties our dealer partners and consumers face," said CEO

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CarGurus stock climbs 13% premarket on strong earnings, bright outlook