That puts the company in position to increase its e-commerce gross profit by close to 60% in the third quarter, and it's calling for total gross profits of $16 million to $18 million, ahead of the $15.7 million it earned in the quarter a year ago. Seattle startup Persona pivots and seizes on video chat popularity by using AI to curate highlight reels, Hundreds of Microsoft employees urge company to cut ties with Seattle PD, call for mayor’s resignation, Amazon looks to expand the reach of Alexa and Echo at annual device unveiling, Seattle Mariners look to improve performance with smart ring that measures sleep and recovery data, Climate change reversal startup Nori raises $4M for its CO2 offsets marketplace, Seattle startup Attunely raises $6M to help debt collection agencies collect payment, BlackSky will add sharper focus and night vision to future Earth-watching satellites, More than words: Diversity Window helps companies take action on diversity and inclusion, Outreach founders lift the hood on their stealthy new remote work startup, Shares of Laird Hamilton’s ‘superfood’ company nearly double on first day of trading, Is this Amazon’s next store? The bigger concern, however, was that management predicted Q3 revenue would decline by 15% to 21% to a range of $268 million to $290 million, well below analysts' consensus expectation of $344.6 million. Let's conquer your financial goals together...faster. "In response to the drop in demand and uncertainty around vehicle pricing early in the pandemic, we chose to de-risk the business by significantly reducing our inventory during the first half of the quarter," said CEO Paul Hennessy. Shares are up 2.0% since reporting last quarter. Vroom (NYSE:VRM) issued an update on its third quarter 2020 After-Hours earnings guidance on Tuesday morning. The company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.77) by $0.43. However, because of the components of the company's business, which include physical location and wholesale channels, that forecast is a bit misleading. After-Hours earnings guidance on Tuesday morning. The online used car dealer was well-received in its June IPO -- shares doubled out of the gate before tacking on another 50% ahead of the second-quarter results. Vroom Delivers Ahead of Growth Plan Ecommerce Unit Sales Up 74% NEW YORK, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Vroom, Inc. (NASDAQ:VRM), a leading e-commerce platform for buying and selling used vehicles, today announced financial results for the second quarter ended June 30, 2020 (“Q2 2020”). Learn more about tech’s critical role in this shift, and the opportunities for innovation associated with this acceleration of distributed care due to COVID-19. Stock Advisor launched in February of 2002. Cumulative Growth of a $10,000 Investment in Stock Advisor, Vroom Stalls Out After Its Debut Earnings Report. Is More Trouble Ahead? The company furloughed about one-third of its workforce last month due to COVID-19 distruptions but said it has brought back 60% of those employees. by Taylor Soper on June 9, 2020 at 9:12 amJune 9, 2020 at 9:30 am.