Zipcar (ZIP) +24.8% AH after beating Q3 estimates. Expectations were low going in - shares...

|By:, SA News Editor

Zipcar (ZIP) +24.8% AH after beating Q3 estimates. Expectations were low going in - shares closed near their post-IPO low today - and the company has a heavy short interest. Total members rose 5% Q/Q and 18% Y/Y to 767K, while usage revenue/vehicle held steady at $65. Q4 revenue guidance of $67M-$71M is in-line with a $69.3M consensus. Q4 adjusted EBITDA is expected to total $4.5M-$7.5M, compared with $6.5M in Q3. (PR)