Why Echo Global Logistics, Inc.'s Shares Popped 32% Today

Shares of supply chain management company Echo Global Logistics, Inc. (NASDAQ: ECHO) jumped as much as 32.4% in trading Thursday after the company reported third-quarter results that easily topped expectations. The early pop gave way quickly, but shares were still up 19% at 1:50 p.m. EDT.

Total revenue jumped 10.7% to $509.5 million, and net revenue was up 7.2% to $86.7 million. Net income was up 1.3% to $2.4 million, or $0.27 per share on a non-GAAP basis, and non-GAAP EBITDA was up 0.5% to $16.8 million. Analysts were only expecting $0.20 per share in earnings on $472.9 million of total revenue, so it was a resounding earnings beat.

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Source: Fool.com