TrueCar (TRUE) Tops Q2 EPS by 5c

TrueCar (NASDAQ: TRUE) reported Q2 EPS of ($0.05), $0.05 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $66.4 million versus the consensus estimate of $65.52 million.

“In the second quarter, we continued to make progress against our turnaround plan, and we exceeded guidance on our key financial and operational metrics," said Mike Guthrie, TrueCar’s Chief Financial Officer.

"We made some great progress this past quarter," Chip Perry, TrueCar's President and Chief Executive Officer continued. "We hit the key milestones we set for ourselves in the second quarter and we have a solid plan for improvement for the rest of the year. I believe the best measure of our progress is shown in our total dealer count, which at the end of the second quarter hit an all-time high of 12,669 franchise and independent dealers. We're operating better, and we still have a lot more work to do, but I am pleased with the progress so far. "

GUIDANCE:

TrueCar sees Q3 2016 revenue of $70-72 million, versus the consensus of $75.2 million.

TrueCar sees FY2016 revenue of $270 million, versus the consensus of $271.8 million.

For earnings history and earnings-related data on TrueCar (TRUE) click here.

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