Cars.com Expects Q4 Revenue of $177M-$179M Vs $177.46M Est, Reiterated FY23 Revenue Growth Of 4% - 6% YoY Vs $685.77M Est
Portfolio Pulse from Benzinga Newsdesk
Cars.com has reiterated its FY23 revenue growth of 4% - 6% YoY, with Q4 revenue expected to be between $177 million and $179 million. This growth is driven by continued dealer and OEM adoption of the Cars Commerce Platform, as well as the acquisition of D2C Media Inc. Adjusted EBITDA margin for Q4 is expected to be between 29.5% and 30.5%.
November 02, 2023 | 11:56 am
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Cars.com expects Q4 revenue of $177M-$179M and reiterated FY23 revenue growth of 4% - 6% YoY. The growth is driven by dealer and OEM adoption of the Cars Commerce Platform and the acquisition of D2C Media Inc.
The news is directly related to Cars.com and its financial performance. The company's expected revenue growth and the factors driving it, such as the adoption of its platform and the acquisition of D2C Media Inc., are likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100