CarGurus reports Q2 EPS 57c, consensus 55c

Reports Q2 revenue $234.0M, consensus $232.25M. The company said, “Our Marketplace business had another strong quarter, with year-over-year revenue growth of 14%. We remain committed to expanding our suite of data-driven solutions across dealers’ workflows and powering a more seamless car-shopping journey for consumers. Within transaction-enablement, we are sharpening our focus on technology and analytics that enable smarter sourcing decisions rather than facilitating the transactions themselves. Accordingly, we have made the decision to wind down the CarOffer transactions business over the balance of the year. This decision was not taken lightly, especially as it impacts colleagues who have contributed meaningfully to our efforts. We’re grateful for their work and are committed to supporting them through the transition.”