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TrueCar: 3Q Earnings Snapshot

·1 min read

SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Thursday reported third-quarter net income of $11.6 million, after reporting a loss in the same period a year earlier.

The Santa Monica, California-based company said it had net income of 11 cents per share. Earnings, adjusted for one-time gains and costs, were 14 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The provider of localized information on new car costs posted revenue of $77.2 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $78.3 million.

For the current quarter ending in December, TrueCar said it expects revenue in the range of $57 million to $59 million.

TrueCar shares have increased 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.04, a rise of 39% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TRUE at https://www.zacks.com/ap/TRUE