TrueCar: 2Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Thursday reported a loss of $6.6 million in its second quarter.
The Santa Monica, California-based company said it had a loss of 7 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 3 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 3 cents per share.
The provider of localized information on new car costs posted revenue of $87.9 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $88.1 million.
For the current quarter ending in October, TrueCar said it expects revenue in the range of $93 million to $95 million.
The company expects full-year revenue in the range of $360 million to $365 million.
TrueCar shares have climbed almost 2 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.38, a decrease of 32 percent in the last 12 months.