Cars reports first quarter 2023 results

Continued growth in revenue and arpd achieved first quarter guidance and reaffirms full-year 2023 guidance repaid revolving loan chicago , may 4, 2023 /prnewswire/ --  cars.com inc. (nyse: cars) ("cars" or the "company"), the leading digital automotive platform that provides a robust set of digital solutions, today released its financial results for the first quarter ended march 31, 2023. q1 2023 financial and key metric highlights revenue of $167.1 million, up $8.9 million, or 6% year-over-year net income of $11.5 million, or $0.17 per diluted share, compared to $4.3 million, or $0.06 per diluted share, in the prior year adjusted ebitda of $44.3 million, or 26.5% of revenue, up $2.3 million year-over-year average monthly unique visitors ("uvs") of 28.5 million, up 7% year-over-year traffic ("visits") of 164.8 million, up 11% year-over-year monthly average revenue per dealer ("arpd") of $2,386, up 4% from the prior year period dealer customers of 19,186 as of march 31, 2023, 320 lower compared to 19,506 as of december 31, 2022 and 314 lower compared to the prior year operational highlights generated $28.1 million in operating cash flow and fully paid the remaining $15.0 million on its revolving loan and returned $7.2 million in capital to its stockholders through share repurchases launched new marketplace packages and aligned subscription pricing with the enhanced value of features and solutions such as creditiq's instant finance and dealerrater, enabling customers to better leverage cross-platform capabilities strengthened editorial content with the publication of cars.com's first-ever affordability report, providing shoppers with insights on comparative vehicle pricing and trends "we drove strong first quarter performance with year-over-year growth in key metrics - revenue, adjusted ebitda, and traffic.
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