Cango Inc. Reports Second Quarter 2020 Unaudited Financial Results

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

Cango Inc. (CANG) Tops Q2 EPS by 2c

August 24, 2020 4:33 PM EDT

Cango Inc. (NYSE: CANG) reported Q2 EPS of $0.07, $0.02 better than the analyst estimate of $0.05. Revenue for the quarter came in at $38.8 million versus the consensus estimate of $48.67 million.

Second Quarter 2020 Financial and Operational Highlights

Total revenues were RMB274.1 million (US$38.8 million) compared with RMB336.3 million in the same period of 2019, mainly due to the impact of the COVID-19 pandemic, which has severely disrupted the domestic automotive industry.After-market services facilitation revenues increased to RMB52.5 million (US$7.4 million), or 19.1% of total revenues in the second quarter of 2020, continuing to serve... More