CarGurus Inc. shares fell 10% in the extended session Monday after investors looked past a better-than-expected quarter for the online car-selling platform to zero in on weaker current-quarter guidance. <\/p>\n
CarGurus Adjusted for one-time items, the company earned 35 cents a share. Revenue fell 22% to $223.1 million. <\/p>\n Analysts polled by FactSet expected the company to report earnings of 34 cents a share on sales of $220.1 million.<\/p>\n CarGurus guided for first-quarter total revenue between $201 million and $221 million, lower than the FactSet consensus of revenue around $240 million. Likewise, it called for an adjusted EPS between 24 cents and 29 cents, in contrast with expectations of 31 cents a share, according to FactSet. <\/p>\n \u201cLooking ahead to 2024, we will continue to invest in growth initiatives while maintaining financial discipline and prioritizing operational excellence and efficient capital allocation,\u201d Chief Executive Jason Trevisan said in a statement. <\/p>\n CarGurus\u2019 results came on the heels of quarterly results for Carvana Inc. Carvana reported a narrower quarterly loss than Wall Street expected <\/a>and said it was on track for growth this year despite macroeconomic conditions. <\/p>\n Shares of CarGurus are up 40% in the past 12 months, compared with an advance of about 28% for the S&P 500 index
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\n lost $23.7 million, or 21 cents a share, in the fourth quarter, contrasting with gains of $159 million, or 20 cents a share, in the year-ago period. <\/p>\n
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\n which also sells used cars online. Carvana offers used and new cars as well as ways for consumers to research cars they might be interested in. <\/p>\n
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