01:24 PM EDT, 05/10/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

CarGurus' ( CARG ) shares were up 9.3% in recent Friday trading, a day after the company reported Q1 non-GAAP net income of $0.32 per diluted share, up from $0.26 a year earlier.

Analysts surveyed by Capital IQ expected $0.28.

Revenue in the quarter ended March 31 fell to $215.8 million from $232 million a year earlier.

Analysts surveyed by Capital IQ expected $216.8 million.

The company expects Q2 non-GAAP EPS of $0.29 to $0.34 on revenue of $202 million to $222 million. Analysts polled by Capital IQ expect EPS of $0.30 on revenue of $224.5 million.

Price: 24.35, Change: +2.07, Percent Change: +9.29