TrueCar Earnings: TRUE Stock Tanks on Q4 Miss

TrueCar (NASDAQ:TRUE) posted its quarterly earnings results on Thursday and the company posted a loss for its last quarter of its fiscal 2018, while also posting adjusted earnings that missed what Wall Street was calling for in its consensus estimate.

TrueCar EarningsThe Santa Monica, Ca.-based automotive pricing and information website said that for its fourth quarter of last year, it amassed a loss of $6.4 million, which amounted to roughly 6 cents per share. When adjusting for stock option expense and other non-recurring costs, the company brought in a profit of about 3 cents per share.

The TrueCar earnings for the period were below what Wall Street was calling for in its consensus estimate as the average estimate of six analysts who were part of a survey conducted by Zacks Investment Research was for adjusted earnings of 4 cents per share.

The company, which helps to offer information on new car costs, also brought in revenue of $91.1 million for the period. The Wall Street consensus estimate of four analysts who were surveyed by Zacks was calling for revenue of $96.2 million.

For the fiscal year, TrueCar posted a loss of $28.3 million, or 28 cents per share, while its revenue was announced at $353.6 million. For its first quarter of the current fiscal year, the company sees its revenue in the range of $84 million and $86 million, while its full-year revenue is projected to be between $371 million and $378 million.

TRUE stock fell more than 24.3% on Friday.

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