TrueCar: 4Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Thursday reported a loss of $6.4 million in its fourth 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 3 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The provider of localized information on new car costs posted revenue of $91.1 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $96.2 million.
For the year, the company reported that its loss narrowed to $28.3 million, or 28 cents per share. Revenue was reported as $353.6 million.
For the current quarter ending in April, TrueCar said it expects revenue in the range of $84 million to $86 million.
The company expects full-year revenue in the range of $371 million to $378 million.
TrueCar shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.24, a decline of 9 percent in the last 12 months.