TrueCar Inc., the struggling online car-shopping portal, said Thursday that its third-quarter loss narrowed from a year earlier on a 28% jump in revenue.
That led the Santa Monica company to slightly raise its financial projections for the year. TrueCar also said its users bought a record 208,034 vehicles in the third quarter, a 21% increase from a year earlier.
TrueCar's website helps consumers shop for and price cars from about 10,000 dealers in its network. TrueCar takes a $299 cut from each new-car transaction and $399 for used vehicles.
The company said it lost $11.1 million in the third quarter, compared with a $13.6-million loss a year earlier.
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