Why TrueCar Stock Was Rising Today
As of 10 a.m. EDT on Monday, TrueCar (NASDAQ: TRUE) shares were up about 6.1% from Friday's closing price. The stock has gained over 35% since the online car-shopping service delivered a better-than-expected second-quarter report after the market closed on Thursday.
Image source: TrueCar.
TrueCar's revenue fell 29% year over year in Q2 to $62.7 million -- a not-too-surprising decline given that U.S. auto sales fell 33% during the quarter -- but the plunge was considerably smaller than Wall Street had expected. As for the bottom line, its adjusted earnings of $0.04 per share soundly beat the $0.07 per share loss that the analysts had forecast.
Source Fool.com
