Shares of growth stock Hims & Hers Health (NYSE: HIMS) jumped as much as 17.1% in trading on Tuesday after the company reported first-quarter 2024 financial results. As of 3 p.m. ET, shares were holding about an 8.4% gain for the day.

Hims & Hers said revenue for the quarter jumped 46% from a year ago to $278.2 million and sailed past the $268.7 million that analysts were expecting. The company also reported net income of $11.1 million, or $0.05 per share on an adjusted basis, topping Wall Street estimates of $0.01 in earnings per share.

Management said the number of subscribers jumped 41% from a year ago to 1.7 million people and revenue per subscriber stayed flat at $55. New product launches have helped grow the opportunity, but clearly, the core value proposition is working for Hims & Hers.

Continue reading

Source Fool.com