Zipcar disappoints with quarterly results, stock plunges lowest level yet
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.
Excerpt from NY Daily News
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.