Why Cars.com Stock Is Rising 11% This Week
Shares of Cars.com (NYSE: CARS) are up 11.5% from where they closed last Friday after the online auto marketplace posted fourth-quarter earnings that beat Wall Street estimates on the top and bottom lines, according to data from S&P Global Market Intelligence.
Revenue for the period was $168.2 million, up 6% from a year ago, beating estimates of $166.2 million, while net income of $10.3 million, or $0.15 per share, reversed a year-ago net loss of $2.9 million, or $0.04 per share, and handily outpaced analyst forecasts of just $0.06 per share.
Image source: Getty images.
Source Fool.com
