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TrueCar: 4Q Earnings Snapshot

February 24, 2021 GMT

SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Wednesday reported fourth-quarter net income of $88 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Santa Monica, California-based company said it had net income of 86 cents. Losses, adjusted for one-time gains and costs, came to 1 cent per share.

The provider of localized information on new car costs posted revenue of $64 million in the period.

For the year, the company reported net income of $77.7 million, or 73 cents per share, swinging to a profit in the period. Revenue was reported as $278.7 million.

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For the current quarter ending in April, TrueCar said it expects revenue in the range of $60 million to $62 million.

TrueCar shares have risen 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.06, a climb of 56% 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