Stamps.com Inc. (NASDAQ: STMP) reported its third-quarter financial results after the markets closed on Thursday. It’s worth pointing out that this company was absolutely crushed in the first quarter after it terminated its deal with the U.S. Post Office. While Stamps.com might still be down on the year, the stock has done exceedingly well since June, but it takes a lot to ignore the chart before that.
The firm said that it had $1.12 in earnings per share (EPS) and $136.2 million in revenue in the latest quarter, compared with consensus estimates of $0.70 in EPS and $123.16 million in revenue. The same period of last year reportedly had $2.76 in EPS and $143.5 million in revenue.
Second-quarter Mailing and Shipping revenue decreased 3% year over year to $132.9 million. Customized Postage revenue was $3.3 million, down 52% from last year.
Looking ahead to the 2019 fiscal full year, the company expects to see EPS in the range of $3.85 to $4.85 and total revenue between $535 million and $565 million. The consensus estimates are for $4.19 in EPS and $540.61 million in revenue for the year.
Ken McBride, board chair and chief executive, commented:
In our ongoing efforts to evolve our strategy to more fully embrace a global multi-carrier and e-commerce services focused business model, we achieved a significant milestone with the recent announcement of our new partnership with UPS. We’re excited about this new collaboration and view it as a meaningful step in our strategy to diversify our carrier relationships.
Shares of Stamps.com traded up more than 17% early Friday at $94.86, in a 52-week range of $32.54 to $207.25. The consensus price target is $81.00.
24/7 Wall St.The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.