TrueCar: 2Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Thursday reported a loss of $11.2 million in its second quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 10 cents. Earnings, adjusted for restructuring costs and stock option expense, came to 4 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The provider of localized information on new car costs posted revenue of $62.7 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $57 million.
In the final minutes of trading on Thursday, the company’s shares hit $4.29. A year ago, they were trading at $4.88.