Shift Technologies reports Q2 EPS ($1.52), consensus ($2.16)

Reports Q2 revenue $47.3M, consensus $59.25M. CEO Ayman Moussa said, “Since I joined Shift approximately two months ago, we have already taken steps to restructure the business and simplify the operations to drive the performance of the business by focusing on the fundamentals. Having seen the results of implementing similar strategies in my past automotive experiences, I believe these are the right steps towards positive unit economics and, subsequently, profitability. I want to thank our team who are executing our tech-enabled omni-channel strategy with a renewed sense of determination and outstanding customer service.”