Why Cars.com Stock Popped Today
Shares of Cars.com (NYSE: CARS) were moving higher today after the online auto retailer posted better-than-expected results in its fourth quarter.
As of 12:17 p.m. ET, the stock was up 10.7%.
Revenue in the quarter rose 6% to $168.2 million, which topped estimates at $166.2 million. That top-line growth was driven by a 5% increase in monthly unique visitors to 24.6 million, while traffic, or total visits, was also up 5% to 24.6 million. Monthly average revenue per dealer increased by 1% to $2,361.
Source Fool.com
