TrueCar: 1Q Earnings Snapshot
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.
The company’s shares closed at $3.31. A year ago, they were trading at $6.96.