CarGurus (NASDAQ: CARG) reported Q1 EPS of $0.19, $0.12 better than the analyst estimate of $0.07. Revenue for the quarter came in at $157.7 million versus the consensus estimate of $152.79 million.

“The world, our industry, and our business have changed significantly in the months since we last spoke. The human and economic toll of the COVID-19 pandemic is staggering, and yet even in the face of these current challenges, I have seen incredible resolve and collaborative spirit from our employees and our dealer customers for which I am deeply grateful,” said Langley Steinert, Founder and Chief Executive Officer of CarGurus. “In the midst of this industry turmoil, we are proud that as the market leader we’ve led with our actions: we were the first major online automotive marketplace(1) in the United States, Canada and United Kingdom to extend billings relief to our customers, helping them weather this difficult period. We’ve led by continuing to deliver value: over the last few weeks we have seen a strong rebound in organic, direct, and application-based traffic, a testament to the brand value we have built over the last several years. We’ve led with rapid innovation: our product teams launched our real-time performance marketing suite in January and have recently introduced contactless sales features, and our marketing teams have released timely consumer insights and market analysis to help dealers and consumers engage safely throughout this period. Finally, we’re also proud of how we’ve demonstrated our business’s fundamental resilience, flexibility, and underlying profitability as we scaled back expenses in mid-March to set us up well for future investment.”

For earnings history and earnings-related data on CarGurus (CARG) click here.