Online Marketplace is Hauling in Cash

Nine months after going public, online automative marketplace reports on earnings.

Trading On The Floor Of The NYSE As U.S. Stocks Fluctuate
Bloomberg—Bloomberg via Getty Images tallied net income of $151.8 million in the fourth quarter, the Chicago-based company reported Tuesday.

The online automotive marketplace, which went public nine months ago, posted revenue of $156.6 million during the three-month period. 

It reported net income of $2.11 on a per-share basis, and adjusted earnings of 48 cents a share. 

For the year, the company recorded a profit of $224.4 million, or $3.13 a share, and revenue of $626.3 million.

"In the past few months, we have demonstrated substantial progress executing on our strategic growth priorities," Alex Vetter, the company's president and CEO, said in a statement. "We also acquired two market-leading technology companies that provide digital solutions to automotive dealers," he added of the privately-held Dealer Inspire and Launch Digital Marketing.  

Down almost 2 percent from the start of 2018, shares were up more than 6 percent in pre-market trade.