RTTNews | Aug 13, 2020 10:46AM EDT

10:46 Thursday, August 13, 2020 (RTTNews.com) - Vroom, Inc. (VRM) shares are sliding more than 17 percent, on net loss for the second quarter.

The e-commerce platform for vehicles reported net loss of $33.34 million, narrower than loss of $63.23 million in the prior year. On an adjusted basis, loss was $59.22 million or $0.28 per share. Wall Street analysts were looking for loss of $0.36 per share.

Revenue for the quarter edged up $260.89 million from $253.09 million in the previous year. Analysts expected revenue of $319.2 million.

Looking ahead to the third quarter, the company expects net loss in a range of $0.42 to $0.37 per share. Revenue for the next quarter is in a range of $268 million to $290 million. Street analysts are looking for loss of $0.32 per share on revenue of $457.25 million.

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