Stitch Fix (NASDAQ:SFIX) reported its latest quarterly results late on Monday, amassing earnings and revenue that topped what Wall Street projected, lifting SFIX stock more than 20% after hours.
The Bay Area, Calif.-based personal styling online subscription business said that for its second quarter of fiscal 2019, it brought in a profit of $12 million, or 12 cents per share. The figure came in ahead of the Wall Street consensus estimate as the average guidance of seven analysts polled by Zacks Investment Research called for a profit of 5 cents per share.
On the revenue front, Stitch Fix impressed as well, raking in $370.3 million in sales, which was about 25.1% higher than the company’s sales from the year-ago quarter, when it raked in $295.9 million. Wall Street was calling for revenue of $365.3 million, according to data from seven analysts surveyed by Zacks.
“Since becoming a public company, we have posted six consecutive quarters of over 20% growth, which demonstrates our ability to drive consistent business performance,” said Stitch Fix Founder and CEO Katrina Lake in the earnings’ press release. “I’m proud that we’re now serving 3 million people across the U.S. and remain focused on delighting our existing clients and expanding our reach.”
SFIX stock is skyrocketing roughly 21.6% after the bell Monday following a strong end to the first half of the company’s fiscal 2019. Shares had been surging about 5% during regular trading hours ahead of the earnings report.