TrueCar's Loss Soars as Automakers Cut Incentive Spending
Online car-shopping service TrueCar (NASDAQ: TRUE) reported on Aug. 8 that it lost $24.1 million in the second quarter of 2019, down from a loss of $6.6 million in the second quarter of 2018, as new revenue from automakers fell short of its expectations.
The company also cut its full-year guidance for the second time in two quarters. TrueCar's second-quarter revenue and adjusted earnings before interest, tax, depreciation, and amortization both fell short of the guidance it had given in May.
Image source: TrueCar.
Source Fool.com