Cars.com inc. reports third quarter 2023 results

Launched cars commerce, uniting the company's b2b brands delivered 6% total revenue growth and 9% arpd year-over-year growth acquired d2c media inc., further expanding the cars commerce platform into canada chicago , nov. 2, 2023 /prnewswire/ -- cars.com inc. (nyse: cars) (d/b/a "cars commerce" or "the "company"), an audience-driven technology company empowering the automotive industry, today released its financial results for the third quarter ended september 30, 2023. q3 2023 financial and key metric highlights revenue of $174.3 million, up $9.7 million, or 6% year-over-year net income of $4.5 million, or $0.07 per diluted share, compared to a net loss of $2.9 million, or $0.04 per diluted share, in the prior year adjusted ebitda of $49.5 million, or 28% of revenue, compared to $49.9 million a year ago average monthly unique visitors ("uvs") of 26.0 million, compared to 27.3 million a year ago traffic ("visits") of 151.4 million, compared to 150.4 million a year ago monthly average revenue per dealer ("arpd") of $2,548, up 9% year-over-year dealer customers were 18,715 as of september 30, 2023, compared to 18,785 as of june 30, 2023 1 operational highlights united the company's b2b brands under cars commerce, reinforcing its platform strategy and empowering the industry with a connected portfolio spanning pretail, retail, and post-sale activities increased website customers to over 6,300, an 8% increase year-over-year and website upsells grew by more than 1,000 from a year ago; accu-trade connected units increased to over 850, up from 400 a year ago completed the 2023 marketplace repackaging initiative, a significant driver of the company's 9% year-over-year arpd growth; results have been strong with nearly 70% of dealer customers opting into one of the upper tier packages acquired d2c media inc, a leading provider of website and digital advertising solutions in canada with approximately 1,000 customers and it supports acceleration of cars commerce's profitable growth trajectory.
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