What's happening Shares of online car-buying service TrueCar (NASDAQ: TRUE) were up sharply on Friday morning, after the company reported better-than-expected earnings and raised its guidance for the full year. As of 11 a.m. EST, TrueCar's shares were up about 34% from Thursday's closing price. So what At first glance, TrueCar's third-quarter earnings report doesn't look great. The company lost $7.7 million in the quarter, versus a $6.3 million loss in the third quarter of last year. But its revenue and its adjusted earnings before interest, tax, depreciation, and amortization (adjusted EBITDA) exceeded the high ends of the respective guidance ranges TrueCar had provided in August, suggesting that interim CEO Mike Darrow's efforts to turn the company around are starting to take hold. Image source: TrueCar. That said, there's still work to be done. TrueCar's key business metrics -- website visitors, total vehicles purchased via the service, and average fee per purchase -- were down slightly from a year ago. A revamped site and a "rebranding" campaign are due soon. Now what TrueCar also raised its full-year guidance for both revenue and adjusted EBITDA. The context here is that the company gave a pessimistic outlook and cut both guidance ranges sharply in August, a move that led to a widespread sell-off of its shares. The revised guidance, which predicts that adjusted EBITDA will fall by about half from 2018, isn't exactly rosy. But as with the quarterly results, it's enough to give investors some confidence that better days are ahead. 10 stocks we like better than TrueCarWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and TrueCar wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 1, 2019 John Rosevear has no position in any of the stocks mentioned. The Motley Fool recommends TrueCar. The Motley Fool has a disclosure policy.Source