TrueCar Cuts Q2, FY15 Revenue Outlook

(RTTNews) - Online car shopping site TrueCar, Inc. (TRUE) on Thursday lowered its second quarter revenue guidance to a range of $65.0 million to $65.3 million from its prior guidance of $67.0 million to $69.0 million, due to a shortfall in unit volume.

The company also said it expects a net loss in the range of $15.0 million to $15.5 million for the second quarter.

In addition, TrueCar cut its full year 2015 revenue guidance to a range of $252 million to $258 million from its previous guidance of $280.0 million to $290.0 million.

Analysts polled by Thomson Reuters currently expect the company to post revenue of $68.62 million for the second quarter and $283.12 million for the full year 2015.

TrueCar will announce its final second quarter financial results on August 6.

TrueCar shares are currently losing 33.05% in after hours trading after closing the day's regular trading session at $10.68, down 25 cents or 2.29%.