Our GigaOM Pro Green IT analyst Adam Lesser reports: Zipcar reported its third quarter financials after the bell yesterday and finds itself getting hammered this morning, down 5 percent. Wall Street is worried about revenue guidance that was slightly below expectations. Sadly, the street is missing the story. Zipcar is finally profitable. Period.
It’s not a passing fad. In fact, the four original markets –- Boston, New York, San Francisco and Washington D.C. –- continue to grow revenue at a 23 percent rate. And who cares about slightly more modest top line growth if there’s a path to profitability coupled with subscriber growth that is 25 percent year over year. If Zipcar can keep this up, I think the company should be considered as a model for success in the share economy.
Here’s other stories Adam has been reading about today:
- US wind turbine prices fallen by a third since 2008: The report out from Lawrence Berkeley National Laboratory looks at not just the cost declines since 2008 but also why costs increased between 2002 and 2008, as well as the issues surrounding the U.S. dollar’s weakness and its impact on pricing.
- Membership opens for EV car sharing in San Diego: Daimler backed Car2Go has launched their fleet of all electric two seaters in San Diego. It’s the first fleet of all electric EVs for car sharing in North America. Interestingly, drivers can drop the car anywhere in the approved zone and Car2Go ensures that cars get to a charging station when necessary.
- NIST: We’re from the government and we’re here to help: GigaOM’s Barb Darrow takes a look at the new technology roadmap from the National Institute of Standards and Technology (NIST) that should speed the government move to the cloud. Plagued by concerns about security and accountability, the government has been slow to adopt the cloud but the new guidelines should help somewhat.