ZipCar Stock Takes A Hit
BOSTON (CBS) – Zipcar, which went public last year, is finally profitable and reported Tuesday that it had a good fourth quarter.
But the Cambridge car sharing company’s CEO said that it’s total revenue growth would have been stronger, if it wasn’t for lower than expected growth in the United Kingdom, although they do expect business there to improve.
The reason Zipcar’s share price fell is because it announced it’s expecting to lose between $4 million and $5 million in the first quarter of this year.
Zipcar just announced this week that it has expanded service to 45 more college campuses including UMass-Dartmouth.
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