Cars.com Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 11:30 am
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Cars.com Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 171.67 million compared to USD 160.3 million a year ago. Revenue was USD 174.33 million compared to USD 164.6 million a year ago. Net income was USD 4.49 million compared to net loss of USD 2.94 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 0.04 a year ago.
For the nine months, sales was USD 500.76 million compared to USD 474.03 million a year ago. Revenue was USD 509.58 million compared to USD 485.68 million a year ago. Net income was USD 110.1 million compared to USD 6.94 million a year ago. Basic earnings per share from continuing operations was USD 1.65 compared to USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 1.61 compared to USD 0.1 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. 
