Online car-shopping service TrueCar (NASDAQ: TRUE) reported on Nov. 7 that it lost $7.7 million in the third quarter of 2019, versus a $6.3 million loss in the third quarter of 2018.
Adjusted for stock option expenses and one-time items, TrueCar had a net profit of $500,000, or less than $0.01 per share. That compares with income on the same basis of $4.3 million, or $0.04 per share, in the year-ago period.
TrueCar's revenue and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) both exceeded the high ends of the guidance ranges the company provided in August. Shares rose sharply in after-hours trading after the results were released.