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TrueCar's Loss Soars as Automakers Cut Incentive Spending

TheMotleyFool

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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

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