Blue Apron Holdings Inc (NYSE:APRN) was falling hard on Thursday following the release of its first earnings report since its IPO.
Blue Apron Holdings Inc reported losses per share of 47 cents during the second quarter of 2017. This hurt APRN stock by coming in below Wall Street’s losses per share estimate of 30 cents for the quarter. The company’s losses per share for the first half of 2017 are $1.25.
Revenue reported by Blue Apron Holdings Inc in the second quarter of 2017 wasn’t bad for APRN stock. This includes revenue of $238.06 million, which is up from the $201.92 million reported during the same time last year. It also comes in above analysts’ revenue estimate of $235.81 million for the second quarter of the year.
Blue Apron Holdings Inc reported a net loss of
$31.63 million during its second quarter of 2017. This is down from its net income of $5.53 million that was reported in the second quarter of the previous year.
Blue Apron Holdings Inc also saw its operating expenses increase in the second quarter of the year. This had it reporting operating expenses of $269.10 million for the quarter. Operating expenses from the same period of the year prior were $196.43 million.
Blue Apron Holdings Inc notes that its average revenue per customers for the second quarter of 2017 was $251. This is a decline from its average revenue per customer of $264 from the second quarter of the previous year. However, APRN had 177 more customers this quarter than it did then.
APRN stock was down 14% as of noon Thursday and is down 47% from its June 30 launch.
As of this writing, William White did not hold a position in any of the aforementioned securities.
