Cars and Drivers
TrueCar Stuns Investors With Weak Guidance and Earnings
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TrueCar Inc. (NASDAQ: TRUE) reported its fourth quarter financial results after the markets closed on Thursday. The company had a net loss of $0.06 per share on $63.6 million in revenue, which compares to consensus estimates that called for a net loss of $0.04 per shares on revenue of $64.8 million. In the same period of the previous year, The company reported no earnings and $55.5 million in revenue.
Over the course of 2015, a record 750,108 cars and light trucks were sold to TrueCar users by TrueCar Certified Dealers, up 23% from last year. The TrueCar Certified Dealer network included over 11,000 dealers at the end of the year, including 9,094 franchise dealers.
Average monthly unique visitors totaled 5.9 million in the fourth quarter, an increase from 4.4 million in the same period from last year.
In terms of guidance, the company expects first-quarter revenue to be in the range of $60 million to $62 million and for adjusted EBITDA to breakeven. There are consensus estimates of $0.01 in EPS on $69.18 million in revenue.
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