Why Stamps.com Stock Just Crashed 10%
Stamps.com (NASDAQ: STMP) reported its third-quarter earnings results last night, crushing analyst estimates and forecasting full-year earnings well above consensus as well -- and then its stock collapsed today, down 10.4% as of 12:40 p.m. EST.
Expected to report only $1.53 per share in pro forma profits for the third quarter, the online postage company earned more than twice that ($3.83) and reported better-than-expected revenue of $193.9 million as well, up 42% year over year.
Stamps.com's earnings according to generally accepted accounting principles (GAAP) came in a bit short of the pro forma number at $3.30 per share. But that was still up 528% compared with last year.
Source Fool.com
