Cars.com Reports Third Quarter 2024 Results
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Cars.com Inc. reported a 3% year-over-year revenue growth for Q3 2024, with significant contributions from OEM and national revenue, which grew by 17%. The company generated $123 million in net cash from operating activities year-to-date, a 34% increase from the previous year, and repurchased 1.2 million shares, representing 45% of its quarterly free cash flow.
November 07, 2024 | 12:45 pm
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Cars.com Inc. reported a 3% increase in revenue for Q3 2024, with OEM and national revenue growing by 17%. The company also saw a 34% increase in net cash from operating activities and repurchased 1.2 million shares.
The positive revenue growth, especially in OEM and national segments, along with a significant increase in net cash from operations, indicates strong financial health. The share repurchase suggests confidence in the company's future, likely boosting investor sentiment and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100