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TrueCar: 1Q Earnings Snapshot

May 8, 2020 GMT

SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Thursday reported a loss of $10.7 million in its first quarter.

On a per-share basis, the Santa Monica, California-based company said it had a loss of 10 cents. Earnings, adjusted for one-time gains and costs, came to 4 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.

The provider of localized information on new car costs posted revenue of $83.5 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $85.4 million.

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The company’s shares closed at $3.31. A year ago, they were trading at $6.96.

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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