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Zipcar forecasts disappoint
Zipcar forecast disappointing first-quarter results yesterday, as its European market faces slower growth, sending the US car-sharing service’s shares down more than 16 per cent. The company expects first-quarter net loss of $4m to $5m on revenue of $58m to $60m. Zipcar posted fourth-quarter revenues up 21 per cent to $62.9m, short of forecasts.