CarGurus Shares Fall Despite Q1 Results Edging Above Estimates
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CarGurus (CARG) shares fell 6.5% despite reporting Q1 results that slightly exceeded Wall Street estimates. Non-GAAP earnings increased to $0.58 per diluted share, up from $0.48 a year prior, while revenue rose to $243.6 million from $212.2 million. However, the company experienced a 23% decline in GAAP net income and reported $19.7 million in impairment charges. For Q2, CarGurus anticipates non-GAAP EPS between $0.57 and $0.64, with revenue projected at $247 million to $252 million.
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