Why Stamps.com Stock Just Jumped 27%
Shares of at-home-postage provider Stamps.com (NASDAQ: STMP) are up 27.3% as of 10:45 a.m. EDT.
This being earnings season, you're probably guessing that Stamps.com stock's surge has something to do with an earnings report -- and you're right.
Wednesday evening, after close of trading on the Nasdaq, Stamps.com reported its fiscal Q2 2017 results. Earnings more than doubled to $1.71 per share on a sales increase of 38% year over year (to $116.1 million). Analysts had only been looking for $1.65 in profit per share (and probably only pro forma at that), with sales of just $99.2 million.
Source: Fool.com
