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Why Waitr Holdings Stock Plunged Today

TheMotleyFool

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Shares of Waitr Holdings (NASDAQ: WTRH) have plunged today, closing down by 10%, after the company reported second-quarter earnings. The results topped Wall Street's expectations and Waitr continues to manage its hefty debt load.

Revenue in the second quarter was $60.5 million, ahead of the consensus estimate of $56 million in sales. That translated into net income of $10.7 million, or $0.10 per share, just edging out the $0.09 per share that the market was expecting. The food delivery tech platform had over 2 million active diners at the end of the quarter, and average daily orders during the period increased 18% to over 44,000.

Image source: Getty Images.

Source Fool.com

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