EverQuote Q1 Earnings Top Estimates, Revenues Fall Y/Y
EverQuote (NASDAQ: EVER) delivered first-quarter 2024 earnings per share of 5 cents in contrast to the Zacks Consensus Estimate of a loss of 7 cents as well as the year-ago quarter’s loss of 8 cents per share.
Though the top line of $91 million declined 16.5% year over year, it beat the Zacks Consensus Estimate by 12.8%.
Both the metrics exceeded expectations, likely reflecting the early stages of auto carrier recovery.
EverQuote, Inc. Price, Consensus and EPS Surprise
EverQuote, Inc. price-consensus-eps-surprise-chart | EverQuote, Inc. Quote
Behind the Headlines
Revenues from the Automotive insurance vertical were $77.5 million, down 13.6% year over year. The Zacks Consensus Estimate was pegged at $67 million. Our estimate was $64.6 million.
Revenues in the Home and Renters insurance vertical totaled $12.7 million, which increased 34.2% year over year. The Zacks Consensus Estimate was pegged at $13.3 million. Our estimate was $15.3 million.
Revenues in the Other insurance vertical totaled $0.1 million, which plunged 16.3% year over year.
Total costs and operating expenses decreased 20% to $89.3 million, mainly due to the cost of revenues and lower sales and marketing, general and administrative and research and development expenses. Our estimate was $77.5 million.
EverQuote’s variable marketing margin decreased 13.4% year over year in the quarter under review to $30.8 …
Full story available on Benzinga.com
