Vera Bradley earnings for its first quarter of fiscal 2020 have VRA stock flying high on Wednesday.
Vera Bradley (NASDAQ:VRA) reported revenue of $91.00 million for its first quarter of the fiscal year. This is an increase over the company’s revenue of $86.59 million reported in its first quarter of fiscal 2019. It was also great news for VRA stock by beating out Wall Street’s revenue estimate of $87.95 million for the period.
The Vera Bradley earnings report for its first quarter of fiscal 2020 has losses per share coming in at 7 cents per share. This has its losses per share for the quarter being wider than the 4 cents from the same time last year. However, it does still match analysts’ losses per share estimate for the quarter. That makes it good for VRA stock.
Vera Bradley earnings for its first quarter of the fiscal year also includes a net loss of $2.41 million. This is worse off than the luggage and handbag design company’s net loss of $1.37 billion reported in its first quarter of the previous fiscal year.
Operating loss reported in the Vera Bradley earnings release for its first quarter of fiscal 2020 comes in at $3.65 million. That’s not as good as the company’s operating loss of $1.91 million reported in the same period of the year prior.
Vera Bradley also updates its outlook for fiscal 2020 in its most recent earnings report. The company is expecting earnings per share between 67 cents and 74 cents. It also expects revenue ranging from $425 million to $440 million. Wall Street is looking for earnings per share and revenue of 69 cents and $426.92 million for the fiscal year.
VRA stock was up 8% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.