Cars.com Reports First Quarter 2024 Results
CHICAGO, May 9, 2024 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a "Cars Commerce Inc." or the "Company"), an audience-driven technology company empowering the automotive industry, today released its financial results for the first quarter ended March 31, 2024.
- or the "Company"), an audience-driven technology company empowering the automotive industry, today released its financial results for the first quarter ended March 31, 2024.
- Net cash provided by operating activities in the first quarter 2024 was $33.5 million, compared to $28.1 million in the prior year.
- The Company repaid $10 million of debt during the quarter, reducing total debt outstanding to $480.0 million, as of March 31, 2024.
- Guidance reflects additional investment to support marketplace brand and product development initiatives, as well as the shift of certain investments from the first quarter of 2024 into the second quarter of 2024.