Cars.com Inc (NYSE:CARS) stock was on its way up today following the release of its earnings report for the fourth quarter of 2017.
During the fourth quarter of the year, Cars.com Inc reported earnings per share of 48 cents. Earnings per share data from the same time last year isn’t available. The company’s earnings per share was a boon to CARS stock by coming in above Wall Street’s estimate of 31 cents for the period.
Cars.com Inc reported net income of $151.76 million for the fourth quarter of 2017. This is an increase over its net income of $48.81 million from the same period of the year prior. The company notes that it saw a one-time tax benefit of $131 million during the quarter from the recent tax reform.
Operating income reported by Cars.com Inc in the fourth quarter of the year came in at $38.83 million. The online car sales business reported operating income of $48.83 million for the fourth quarter of 2016.
Cars.com Inc’s revenue of $156.57 million for the fourth quarter of 2017 was also good news for CARS stock today. Revenue from the same quarter of the previous year was $161.67 million. Analysts’ were looking for revenue of $156.30 million for the quarter.
The most recent earnings report from Cars.com Inc also includes its outlook for the full year of 2018. The company says it expects revenue to grow by 10% to 11% from its 2017 revenue of $626.26 million. Wall Street is estimating revenue of $691.01 million for the year.
CARS stock was up 4% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
