TrueCar: 3Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Tuesday reported a loss of $6.3 million in its third quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 6 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 4 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The provider of localized information on new car costs posted revenue of $93.6 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $93.8 million.
For the current quarter ending in December, TrueCar said it expects revenue in the range of $95.5 million to $97.5 million.
The company expects full-year revenue in the range of $358 million to $360 million.
TrueCar shares have climbed 2.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.48, a drop of 30 percent in the last 12 months.