Recap: Cango Q3 Earnings

Shares of Cango CANG rose 23.45% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 1490.91% year over year to $1.75, which beat the estimate of $0.08.

Revenue of $64,061,000 up by 30.35% from the same period last year, which missed the estimate of $65,130,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Q4 revenue expected to be between $103,099,000 and $110,463,000.

Conference Call Details

Date: Nov 23, 2020

Time: 08:00 PM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/cang/mediaframe/42047/indexr.html

Price Action

52-week high: $9.82

Company's 52-week low was at $4.20

Price action over last quarter: Up 72.52%

Company Overview

Cango Inc is one of the leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. The services primarily consist of - automotive financing facilitation, automotive transaction facilitation, and aftermarket service facilitation. Geographically, it derives revenue from China.