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TrueCar: 2Q Earnings Snapshot

August 9, 2018

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TRUE at https://www.zacks.com/ap/TRUE

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