Why Liquidity Services Stock Popped Today
Shares of Liquidity Services (NASDAQ: LQDT) jumped more than 10% on Thursday, following the release of the business surplus marketplace's fiscal third-quarter results.
Liquidity Services' total revenue rose 12% year over year to $56.9 million, besting Wall Street's estimates for revenue of $52.2 million.
Its gross merchandise volume (GMV) -- essentially, the total dollar amount of sales conducted on its platforms -- grew 3% to $168.1 million. Notably, the number of registered buyers in its network increased by 10.7% to 3.6 million, while the number of participants at the company's auctions rose 3.1% to 528,000. Better still, these buyers completed 10.3% more transactions in the second quarter versus the prior-year period.
Quelle Fool.com
