Cars.Com down after posting Q4 loss

Cars.com

24/02/2022 16:34

** Shares of online automotive dealer  CARS.N  fall as much
as ~8% to a three-month low of $13.01 after co posts net loss
for Q4, compared to a year-ago profit
    ** Co posts net loss of $6 mln, or 9 cents per share,
compared with net income of $7.2 mln, or 10 cents per share, a
year ago  urn:newsml:reuters.com:*:nPnbl8WnTa
    ** Says net loss primarily a result of $9.6 mln of
compensation expense recognized as part of the $30 mln upfront
purchase price of CreditIQ
    ** CARS revenue rose 3% to $158.3 mln and average monthly
unique visitors increased 6% to 23.6 mln 
    ** Co expects Q1 2022 revenue of $156.5 mln-$158.5 mln
    ** Expects full-year 2022 revenue growth to be between 6%
and 8% with double-digit revenue growth in Q4, expecting
inventory shortages to have recovered in the second half
    ** Co also says board authorized the repurchase of up to
$200 mln of its outstanding shares of common stock over the next
three years
    ** Shares of CARS gained ~42% last year 

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))