Why PetMed Express Inc. Stock Jumped Today

Shares of PetMed Express Inc. (NASDAQ: PETS) soared today after the country's largest pet pharmacy reported strong fiscal first-quarter results. As of 12:32 a.m. EDT, the stock was up 19.3%.

PetMed Express surged past analysts' forecasts once again as revenue increased 10% to $79.7 million, topping the consensus estimate of $77.3 million. A shift to higher-margin products helped generate a 350-basis-point increase in gross margin to 34.5%, which in turn powered a 41% jump in earnings per share to $0.45, beating the consensus estimate of $0.38.

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Source: Fool.com