Vroom Inc Reports Earnings for Q2 2024
Intellectia.AI Updated: 1970-01-01
Vroom, Inc. Reports Earnings for Q2 2024
Vroom, Inc. has reported its financial results for the second quarter ended June 30, 2024.
Key Financial Metrics:
| Metric | Q2 2024 | Q2 2023 | YoY Change | Consensus Estimates | QoQ Change |
|---|---|---|---|---|---|
| Total Revenue | $55.3M | $50.7M | +9.1% | $235.92M | N/A |
| Earnings Per Share (EPS) | N/A | N/A | N/A | $0 | N/A |
Interpretation: Vroom's Q2 2024 total revenue showed a year-over-year increase of 9.1% to $55.3 million. This revenue deviated significantly from the consensus estimate of $235.92 million. The earnings per share data are not available for both quarters.
Revenue Performance by Segments:
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | YoY Change |
|---|---|---|---|
| UACC | $52.4M | $47.5M | +10.2% |
| CarStory | $2.9M | $3.2M | -9.6% |
Interpretation: UACC reported a 10.2% year-over-year increase in revenue, driven by various factors including new originations. However, CarStory saw a 9.6% decline in revenue compared to Q2 2023, primarily due to a change in the scope of service and data provided to its customers.
Stock Price Movement:
| Event | % Change |
|---|---|
| After Event | -5.67% |
Following the earnings release, Vroom, Inc. experienced a significant drop in its stock price, declining by 5.67%.
Vroom, Inc. remains focused on its core businesses, including UACC and CarStory, while continuing to navigate the complexities following the shutdown of its ecommerce operations.
The report has been organized into a clearer format, and sections with insufficient data have been removed.