AP NEWS
Click to copy
Click to copy

TrueCar: 2Q Earnings Snapshot

August 8, 2019

SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Thursday reported a loss of $24.1 million in its second quarter.

On a per-share basis, the Santa Monica, California-based company said it had a loss of 23 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 2 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The provider of localized information on new car costs posted revenue of $88.1 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $89.7 million.

For the current quarter ending in October, TrueCar said it expects revenue in the range of $87 million to $89 million.

The company expects full-year revenue in the range of $345 million to $350 million.

In the final minutes of trading on Thursday, the company’s shares hit $4.82. A year ago, they were trading at $11.32.

_____

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

All contents © copyright 2019 The Associated Press. All rights reserved.