Vroom (VRM) Tops Q3 EPS by 6c

Vroom (NASDAQ: VRM) reported Q3 EPS of ($0.31), $0.06 better than the analyst estimate of ($0.37).

HIGHLIGHTS OF THIRD QUARTER 2020

• 8,823 ecommerce units sold, up 59% YoY
• Ecommerce revenue of $221.8 million, up 25% YoY
• Ecommerce gross profit of $19.3 million, up 120% YoY

Paul Hennessy, Chief Executive Officer of Vroom, commented:

“I am very pleased with our results for the third quarter, in which we successfully managed the challenges presented by the COVID-19 pandemic, outperformed our plan, demonstrated the strength of our business model, and hit the accelerator on significantly scaling our business. By doing the things we said we would do -- adding vehicle inventory, increasing marketing, relying on data to drive decision making, and enhancing our customer experience -- we increased the velocity of the Vroom flywheel, drove conversion and increased GPPU. We will continue to execute our plan and invest in the growth of our business as we transform the market for buying and selling used vehicles.”

For earnings history and earnings-related data on Vroom (VRM) click here.

You May Also Be Interested In

• Citrini flags overheating concerns as leverage, chip rally weigh on KOSPI
• Wealthfront launches custodial account with tax-gain harvesting
• RBC initiates GE HealthCare as it sees AI-led innovation cycle driving growth