NEW YORK (AP) _ Vroom, Inc. (VRM) on Wednesday reported a loss of $77.2 million in its first quarter.
On a per-share basis, the New York-based company said it had a loss of 57 cents.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 63 cents per share.
The company posted revenue of $591.1 million in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $521.2 million.
Vroom expects full-year results to range from a loss of 58 cents per share to a loss of 51 cents per share, with revenue in the range of $618 million to $640 million.
Vroom shares have declined slightly since the beginning of the year. The stock has declined 6% in the last 12 months.
The Associated Press