Blue Apron Holdings Inc (NYSE:APRN) stock was down Thursday on an earnings miss for the third quarter of the year.
The bad news for APRN stock got its start today with losses per share of 47 cents for the third quarter of 2017. This is better than its losses per share of 56 cents from the same time last year. However, it was still a larger loss than the 42 cents per share that Wall Street was expecting.
Blue Apron Holdings Inc didn’t help APRN stock out today with its guidance for the second half of the year. The company says that it is lowering its net loss expectations. It now expects net loss for the year to range from $131 million to $138 million.
Blue Apron Holdings Inc also reaffirmed its revenue outlook for the second half of the year. The company says that it expects revenue for the period to range from
$380 million to $400 million. APRN’s revenue for the nine months ended on Sept. 30 is $693.54 million. Wall Street is expecting revenue of $877.44 million for the year.
While most of Blue Apron Holdings Inc’s earnings report is a disappointment, there was a bright spot with its third-quarter revenue of $210.64 million. This is an increase over its revenue of $205.45 million from the same period of the year prior. It also came in above Wall Street’s revenue estimate of $191.47 million for the quarter.
APRN stock was down 10% as of Thursday afternoon and is down 57% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
