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TrueCar Q1 loss widens 17.7% YOY

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TrueCar Q1 loss widens 17.7% YOY

TrueCar Inc. said its normalized net income for the first quarter amounted to a loss of 8 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 7 cents per share.

The per-share loss grew 13.5% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $6.6 million, compared with a loss of $5.6 million in the year-earlier period.

The normalized profit margin fell to negative 11.4% from negative 9.6% in the year-earlier period.

Total revenue grew 5.6% year over year to $61.9 million from $58.6 million, and total operating expenses rose 6.5% year over year to $71.9 million from $67.5 million.

Reported net income totaled a loss of $11.7 million, or a loss of 14 cents per share, compared to a loss of $11.6 million, or a loss of 14 cents per share, in the prior-year period.