Friday, August 04, 2017 12:56:12 PM
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Stamps.com Delivers Strong Earnings Report As Stock Surges
Shares of Stamps.com (STMP) surged Thursday after the online provider of postage reported strong second-quarter earnings late Wednesday that beat views.
Autoplay: On | OffStamps.com shares closed up 35.9% at 205.60 on the stock market today, setting a record high.
Company revenue of $116.1 million was up 38% from the year-ago quarter and above the consensus estimate of $99.3 million. That maintained a string of quarterly double-digit gains, year over year, going back three years.
Adjusted earnings came in at $2.08, up 62%. It is the 13th straight quarter of double- or triple-digit gains year over year. Earnings came in at 46 cents above the consensus estimate of $1.62.
IBD'S TAKE: Stamps.com shares bolted to a record high, with the stock now up 72% this year. To find out which companies are hitting 52-week highs, check out IBD's New Highs. The list also ranks the companies making new highs by Composite Rating. So the best are at the top, making this a quick and easy read to find stocks for your watchlist.
"In addition to our strong revenue and earnings growth during the second quarter, we reached our highest level of paid customers and average revenue per paid customer, we saw continued strong growth in our shipping business areas, and we experienced strong contributions from all of our subsidiaries," said Stamps.com Chief Executive Ken McBride, in prepared remarks.
"We remain very excited about our future business opportunities which, combined with our second-quarter performance, led us to increase our guidance for 2017," McBride went on to say.
Stamps.com expects full-year earnings in the range of $7.50 to $8.50 per share, with revenue in the range of $435 million to $460 million.
http://www.investors.com/news/technology/stamps-com-delivers-strong-earnings-report-as-stock-surges/?src=A00220&yptr=yahoo
gys
Stamps.com Delivers Strong Earnings Report As Stock Surges
Shares of Stamps.com (STMP) surged Thursday after the online provider of postage reported strong second-quarter earnings late Wednesday that beat views.
Autoplay: On | OffStamps.com shares closed up 35.9% at 205.60 on the stock market today, setting a record high.
Company revenue of $116.1 million was up 38% from the year-ago quarter and above the consensus estimate of $99.3 million. That maintained a string of quarterly double-digit gains, year over year, going back three years.
Adjusted earnings came in at $2.08, up 62%. It is the 13th straight quarter of double- or triple-digit gains year over year. Earnings came in at 46 cents above the consensus estimate of $1.62.
IBD'S TAKE: Stamps.com shares bolted to a record high, with the stock now up 72% this year. To find out which companies are hitting 52-week highs, check out IBD's New Highs. The list also ranks the companies making new highs by Composite Rating. So the best are at the top, making this a quick and easy read to find stocks for your watchlist.
"In addition to our strong revenue and earnings growth during the second quarter, we reached our highest level of paid customers and average revenue per paid customer, we saw continued strong growth in our shipping business areas, and we experienced strong contributions from all of our subsidiaries," said Stamps.com Chief Executive Ken McBride, in prepared remarks.
"We remain very excited about our future business opportunities which, combined with our second-quarter performance, led us to increase our guidance for 2017," McBride went on to say.
Stamps.com expects full-year earnings in the range of $7.50 to $8.50 per share, with revenue in the range of $435 million to $460 million.
http://www.investors.com/news/technology/stamps-com-delivers-strong-earnings-report-as-stock-surges/?src=A00220&yptr=yahoo
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