Why PROG Holdings Stock Is Up Big Today
PROG Holdings (NYSE: PRG) reported better-than-expected fourth-quarter results and gave an upbeat forecast for the current quarter. The numbers are going over well on Wall Street, with shares of the fintech company up as much as 12% on Wednesday.
PROG is a holding company with a number of brands trying to modernize consumer lending. The company owns Progressive Leasing, which does app-based and in-store lease-to-own solutions, as well as revolving credit source Vive Financial and buy now, pay later specialist Four Technologies.
Those brands performed well over the holiday season. PROG reported fourth-quarter earnings of $0.84 per share on revenue of $612.1 million, easily topping analyst expectations for $0.59 per share in earnings on sales of $600 million.
Source Fool.com
