Vroom stock drops as outlook misses Street view

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Vroom Inc. shares fell in the extended session Wednesday after the online used-car sales site’s outlook missed Wall Street estimates. Vroom shares dropped 16% after hours, following a 6.6% surge in the regular session to close at $69.01. Vroom expects a loss of 42 cents to 37 cents a share on revenue of $268 million to $290 million in the third quarter, while analysts had forecast a loss of 36 cents a share on revenue of $344.6 million. The company reported a second-quarter loss of $63.2 million, or $2 a share, compared with $59.2 million, or $6.90 a share, in the year-ago period. The adjusted loss, excluding stock-based compensation and other items, was 34 cents a share. Revenue declined to $253.1 million from $260.9 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 55 cents a share on revenue of $234.9 million. Shares of Vroom more than doubled on their first day of trading back in June.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.