Zipcar Earnings Cheat Sheet: Loss Narrows

Zipcar, Inc. (NASDAQ:ZIP) reported its results for the most recent quarter. Zipcar, Inc. operates car sharing network. It provides the freedom of ‘wheels when you want them’.

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Zipcar, Inc. Earnings Cheat Sheet

Results: The company reported a net loss of $5.6 million (loss of 17 cents per share) vs. a loss of $5.2 million or a loss of 95 cents per share.

Revenue: Revenue rose 34% to $61.6 million.

Actual vs. Wall St. Expectations: The company reported a narrower loss than the mean estimate for a loss of 23 cents per share. It beat the revenue estimate of $59.3 million.

Quoting Management: “Our strong second quarter performance underscores the business momentum we have established based on solid execution and the benefits associated with our first mover advantage,” said Scott Griffith, Chairman and CEO. “Our commitment to a superior member experience and continued innovation such as the launch of our new Android app during the quarter has helped to stimulate increased activity across the network. Once we complete the integration of Streetcar, which remains on track, we intend to build on our U.K. presence by expanding into new markets in continental Europe.”

Competitors to Watch: Hertz Global Hldgs., Inc. (NYSE:HTZ), Avis Budget Group Inc. (NYSE:CAR).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock >>

(Source: Xignite Financials)