Playboy (NASDAQ:PLBY) stock is hopping higher on Tuesday as investors react to results from the risque company’s most recent earnings report.
Let’s jump into the details from that report below.
- Playboy kicks off its Q3 2021 earnings report with diluted losses per share of 18 cents.
- That’s not a strong start considering Wall Street’s estimate of 12 cents per share for the quarter.
- It’s also quite the drop from the company’s diluted EPS of 5 cents in the third quarter of 2020.
- Fortunately, Playboy’s revenue for the period comes in at $58.4 million.
- That has it beating out analysts’ estimates of $$57.7 million for Q3.
- It also represents a 67% increase year-over-year.
Ben Kohn, CEO of Playboy, made the following statement in the earnings report sending PLBY stock higher today.
“We’ve made meaningful progress against the three pillars of our strategic roadmap: expanding our U.S. direct-to-consumer commerce business, optimizing our licensing partnerships in key territories and categories, and driving new recurring revenue growth initiatives with a focus on innovative digital offerings such as our soon-to-launch creator-led platform, CENTERFOLD, and our NFT Rabbitars, which we plan to develop into a membership experience.”
To go along with today’s earnings news, PLBY stock is seeing heavier-than-normal trading. This has more than 3 million shares traded as of this writing. That’s a significant leap from the company’s daily average trading volume of roughly 885,000 shares.
PLBY stock is up 23.4% as of Tuesday morning and is up 239.6% since the start of the year.
Investors hungry for more stock market news today are in luck!
InvestorPlace offers a buffet of all the latest stock news traders will want to consume today. A few examples to consider include the news moving QuantumScape (NYSE:QS) today, what to know about Romeo Power (NYSE:RMO) as shares rise, as well as the most recent news for BIMI International Medical (NASDAQ:BIMI). You can find all of those stories at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
