Cars.com Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 12:30 pm
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Cars.com Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 165.71 million compared to USD 158.13 million a year ago. Revenue was USD 168.18 million compared to USD 162.87 million a year ago. Net income was USD 94.13 million compared to USD 5.55 million a year ago. Basic earnings per share from continuing operations was USD 1.41 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 1.37 compared to USD 0.08 a year ago.
For the six months, sales was USD 329.1 million compared to USD 313.72 million a year ago. Revenue was USD 335.24 million compared to USD 321.08 million a year ago. Net income was USD 105.61 million compared to USD 9.89 million a year ago. Basic earnings per share from continuing operations was USD 1.58 compared to USD 0.14 a year ago. Diluted earnings per share from continuing operations was USD 1.55 compared to USD 0.14 a year ago.
Cars.com Inc., doing business as Cars Commerce Inc., is an audience-driven technology company. It is engaged in car buying and selling with products, solutions and artificial intelligence (AI)-driven technologies that span pretail, retail and post-sale activities. The Cars Commerce platform is organized around four brands: the flagship automotive marketplace and dealer reputation site Cars.com, digital retail technology and marketing services from Dealer Inspire, essential trade-in and appraisal technology from AccuTrade, and media solutions from the Cars Commerce Media Network. It enables shoppers with the data, resources and digital tools needed to make informed buying decisions and connect with automotive retailers. Cars.com enables dealerships and original equipment manufacturers with solutions and data-driven intelligence. Its products and solutions have attracted approximately 19,500 franchise and independent dealer customers across the United States and Canada to its platform.
CARS.COM INC. 
