TrueCar Earnings Beat Expectations, but a Key Partner Is Departing
Online car-shopping service TrueCar (NASDAQ: TRUE) said on Feb. 20 that its fourth-quarter net loss widened to $8.8 million, from $6.4 million a year ago, as new-car purchases made via the company's services declined 3% from the year-ago period.
On a per-share basis, TrueCar lost $0.08 per share in the fourth quarter, beating Wall Street's expectations. Revenue of $89.7 million, down 2% from a year ago, also beat expectations. Analysts polled by FactSet had expected a loss of $0.11 per share on revenue of $88 million, on average.
The better-than-expected quarter helped push TrueCar's full-year revenue and adjusted earnings before interest, tax, depreciation, and amortization (adjusted EBITDA) above the guidance ranges it gave in November.
Source Fool.com
