02:46 PM EDT, 08/08/2024 (MT Newswires) -- ACV Auctions ( ACVA ) shares rose 20% in recent Thursday trading, a day after a Q2 revenue beat and a boost in 2024 sales guidance.

Revenue in the quarter ended June 30 rose to $160.6 million from $124.2 million a year earlier, the company said Wednesday.

Analysts surveyed by Capital IQ expected $156.3 million.

The net loss of $0.10 a share matched the loss a year earlier.

Analysts polled by Capital IQ expected a loss of $0.11.

The company forecast Q3 revenue of $158 million to $162 million. Analysts polled by Capital IQ expect $159.4 million.

ACV Auctions ( ACVA ) raised 2024 revenue guidance to $615 million to $625 million from $610 million to $625 million. Analysts expect $620.1 million.

Price: 17.75, Change: +2.92, Percent Change: +19.66