TrueCar's First-Quarter Loss Narrowed on Cost Cuts as Revenue Slid

Online car-shopping service TrueCar (NASDAQ: TRUE) said that its first-quarter loss narrowed from the first quarter of 2019 to $10.7 million despite a decline in revenue after the COVID-19 outbreak disrupted businesses in March.

TrueCar's loss of $0.10 per share and revenue of $83.5 million both fell short of Wall Street's consensus estimates as reported by Thomson Reuters. Analysts had expected a loss of $0.02 per share on revenue of $86.44 million.

TrueCar's stock price fell sharply after the news was released.

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Source Fool.com