Stamps.com (NASDAQ:STMP) earnings for the stamp selling company’s second quarter of 2020 have STMP stock flying higher on Friday. That’s thanks to its adjusted earnings per share of $3.11 completely stomping Wall Street’s estimate of $1.26. Its revenue of $206.73 million also blows past analysts’ estimate of $153.3 million.
Here are some additional highlights from the most recent Stamps.com earnings report.
- Adjusted per-share earnings are up 148% from $1.25 in the same period of the year prior.
- Revenue for the quarter is sitting 49% higher compared to $138.77 million in the second quarter of 2019.
- Operating income of $61.19 million is a 172.8% increase year-over-year from $22.43 million.
- The Stamps.com earnings report also has it bringing in a net income of $51.73 million.
- That’s a 269.8% jump from the company’s net income of $13.99 million reported during the same time last year.
Ken McBride, chairman and CEO of Stamps.com, said the following in the earnings report.
“In recent months, e-commerce has provided an important lifeline to many businesses and individuals in the context of the COVID-19 pandemic, and we value our ability to provide a best-in-class critical shipping technology that enables such e-commerce activity for our customers and partners during this difficult time.”
Stamps.com also includes a guidance update in its earnings report. It now expects adjusted EPS of $6.25 to $9.25 and revenue of $650 million to $725 million for the year. Wall Street’s estimates include an adjusted EPS of $5.10 on revenue of $618.11 million.
STMP stock was up 16.5% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
