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Zipcar disappoints with quarterly results, stock plunges lowest level yet

Excerpt from NY Daily News

Aug 03, 2012 1:58 pm

Skift Take

Zipcar’s numbers were hurt by a slow down in new members, but the growing competition from peer-to-peer car sharing programs is undoubtedly a concern.

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Zipcar Inc. shares tumbled to an all-time low Friday after the car-sharing network reported lower-than-expected revenue in the second quarter and cut its annual estimates…

Zipcar said its revenue grew 15 percent to $70.8 million in the second quarter, but FactSet reports that analysts expected $73.1 million.

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