ACV Auctions (ACVA) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, ACV Auctions Inc. (ACVA) reported revenue of $160.62 million, up 29.3% over the same period last year. EPS came in at $0.02, compared to -$0.01 in the year-ago quarter.
The reported revenue represents a surprise of +2.75% over the Zacks Consensus Estimate of $156.33 million. With the consensus EPS estimate being $0.02, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ACV Auctions performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
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Marketplace Units
: 186,526 versus 186,524 estimated by three analysts on average.
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Marketplace GMV
: $2.4 billion versus the two-analyst average estimate of $2.4 billion.
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Revenue- Customer assurance
: $16.50 million versus $17.34 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.1% change.
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Revenue- Marketplace and service
: $144.13 million versus the two-analyst average estimate of $139.74 million. The reported number represents a year-over-year change of +31.8%.
View all Key Company Metrics for ACV Auctions here>>>
Shares of ACV Auctions have returned -13.6% over the past month versus the Zacks S&P 500 composite's -5.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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ACV Auctions Inc. (ACVA) : Free Stock Analysis Report