Is TrueCar's 12% Pop on Thursday Justified?
Shares of TrueCar (NASDAQ: TRUE), a digital automotive marketplace connecting consumers and certified dealers, are up 12% Thursday morning after the company delivered better than expected fourth-quarter financial results.
TrueCar reported a 25% decline in revenue during the fourth quarter, down to $64 million. That result was strong enough to top analysts' estimates of $59 million. The company's fourth-quarter adjusted net loss checked in at $1.1 million, or a loss of $0.01 per share, which was still above analysts' estimates calling for a loss of $0.05 per share.
TrueCar had a 2% increase in average monthly unique visitors during the fourth quarter, and monetization -- which is the average transaction revenue per unit -- jumped to $382 during the fourth quarter, compared to $342 in the prior year.
Source Fool.com
