Cars.com Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 03, 2022 at 07:45 am EDT
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Cars.com Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 160.3 million compared to USD 154.59 million a year ago. Revenue was USD 164.6 million compared to USD 156.55 million a year ago. Net loss was USD 2.94 million compared to net income of USD 2.43 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to basic earnings per share from continuing operations of USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to diluted earnings per share from continuing operations of USD 0.03 a year ago.
For the nine months, sales was USD 474.03 million compared to USD 458.82 million a year ago. Revenue was USD 485.68 million compared to USD 465.38 million a year ago. Net income was USD 6.94 million compared to USD 13.68 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.2 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to USD 0.19 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. 
