Cars.com Inc. Provides Earnings Guidance for Second Quarter and Reaffirms Earnings Guidance for the Full Year 2024
May 09, 2024 at 05:16 pm IST
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Cars.com Inc. provided earnings guidance for Second quarter and full year 2024. For the period, company's revenue is expected to be between $181 million and $183 million, representing year-over-year growth of 7% to 9%.
For the year, the Company reaffirms its full year revenue growth guidance of 6% to 8%. The Company expects margins to improve over the course of the year.
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.