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Why Stamps.com Stock Skyrocketed Today

TheMotleyFool

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Why Stamps.com Stock Skyrocketed TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/012f8213-0bd1-4831-98f2-6d5fae956d6a.png

Shares of Stamps.com (NASDAQ: STMP) have skyrocketed today, up by 16% as of 12:15 p.m. EST, after the company reported Q3 earnings. The postage and shipping software specialist delivered a textbook beat-and-raise quarter.

Revenue in the third quarter declined 5% to $136.2 million, topping the $123.2 million in sales that analysts were expecting. That led to adjusted profits of $19.5 million, or $1.12 per share, well above the consensus estimate of $0.70 per share in adjusted earnings.

Image source: Getty Images.

Source Fool.com

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