Automobiles.com shares tumbled 16% after pre-tax earnings plunged

Written by Ben Glickman

Automobiles.com shares sank Thursday after pre-tax earnings fell within the second quarter.

The inventory is down 16% to $18.80 pre-market. Shares are up 63% up to now this yr.

The Chicago-based on-line automobile vendor reported second-quarter revenue of $94.1 million, or $1.37 per share, in comparison with $5.55 million, or 8 cents per share, a yr in the past. The corporate’s revenue on tax advantages jumped to $93.1 million, and internet earnings earlier than taxes fell to $1.05 million from $6.28 million a yr earlier.

Automobiles.com income elevated 3% to $168.2 million.

Automobiles.com mentioned vendor clients had been down in comparison with the primary quarter of the yr, falling to 18,785 from 19,186. The typical variety of distinctive guests per 30 days has decreased barely, from 27.1 million final yr to 26.9 million.

Write to Ben Glickman at ben.glickman@wsj.com

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