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By Dhirendra Tripathi
Investing.com -- Vroom (NASDAQ:VRM) shares were up 13% in Thursday’s premarket following a March quarter performance that beat estimates and helped the company reiterate its positive outlook.
Ecommerce revenue rose 81% year-on-year to $422.3 million in March quarter while gross profit more than doubled, rising 123% to $31.8 million.
For the full year 2021, the company reiterated triple digit year-over-year growth in ecommerce unit sales and more than 200% year-over-year growth in aggregate gross profit.
The online marketplace for used vehicles expects ecommerce unit sales of 17,500 to 18,000 in 2021 in the ongoing quarter, implying year over year growth of 164% at the middle of the guidance range.
It expects the current quarter’s gross profit to be in range of $54 million to $59 million. Total revenue is seen between $618 million and $640 million in the April-June period.
The positive outlook helped overshadow any negative sentiment that a net loss of $77.2 million would have created.