Vroom Slips 10% On Quarterly Results

(RTTNews) - Shares of Vroom Inc.(VRM) slipped over 10% in the extended session Wednesday after the online used-car retailer reported a loss for the fourth quarter that was wider than Wall Street analysts' estimates.

Vroom reported fourth-quarter loss of $60.7 million or $0.46 per share, wider than last year's loss of $42.7 million or $7.63 per share last year.

Excluding one-time items, Vroom reported adjusted loss of $0.44 per share, compared to $0.33 per share last year.

Revenues for the quarter grew 14.1% to $405.8 million from $355.6 million last year.

Analysts polled by Thomson Reuters expected Vroom to report a loss of $0.39 on revenues of $401.2 million.

Looking forward to the full-year 2021, Vroom expects net loss of $0.61 to $0.68 per share. Analysts currently sees loss of $1.41 per share.

VRM closed Wednesday's trading at $43.90, down $3.97 or 8.29%, on the Nasdaq. The stock further dropped $5.10 or 11.62% in the after-hours trade.