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Aug. 12, 2020, 4:45 p.m. EDT

Vroom stock drops as outlook misses Street view

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    Vroom Inc. (VRM)

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By Wallace Witkowski

VRM

Vroom Inc. /zigman2/quotes/218801255/composite VRM -2.87% shares fell in the extended session Wednesday after the online used-car sales site's outlook missed Wall Street estimates. Vroom shares dropped 16% after hours, following a 6.6% surge in the regular session to close at $69.01. Vroom expects a loss of 42 cents to 37 cents a share on revenue of $268 million to $290 million in the third quarter, while analysts had forecast a loss of 36 cents a share on revenue of $344.6 million. The company reported a second-quarter loss of $63.2 million, or $2 a share, compared with $59.2 million, or $6.90 a share, in the year-ago period. The adjusted loss, excluding stock-based compensation and other items, was 34 cents a share. Revenue declined to $253.1 million from $260.9 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 55 cents a share on revenue of $234.9 million. Shares of Vroom more than doubled on their first day of trading back in June.

/zigman2/quotes/218801255/composite
US : U.S.: Nasdaq
$ 51.73
-1.53 -2.87%
Volume: 1.43M
Sept. 23, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.93 billion
Rev. per Employee
N/A
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