Cango Inc. Reports First Quarter 2020 Unaudited Financial Results

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Go back to Cango Inc. Reports First Quarter 2020 Unaudited Financial Results

Cango Inc. (CANG) Misses Q1 EPS by 8c, Revenues Beat

May 27, 2020 4:32 PM EDT

Cango Inc. (NYSE: CANG) reported Q1 EPS of ($0.01), $0.08 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $34.7 million versus the consensus estimate of $32.75 million.

First Quarter 2020 Financial and Operational Highlights

Total revenues were RMB246.0 million (US$34.7 million) compared with RMB351.7 million in the same period of 2019, mainly due to the worldwide outbreak of the COVID-19 pandemic, which has severely disrupted the domestic automotive industry.After-market services facilitation revenues increased to RMB49.1 million (US$6.9 million), or 19.9% of total revenues in the first quarter of 2020, continuing to... More