Stamps.com: 2Q Earnings Snapshot
EL SEGUNDO, Calif. (AP) _ Stamps.com Inc. (STMP) on Wednesday reported second-quarter profit of $14 million.
On a per-share basis, the El Segundo, California-based company said it had net income of 79 cents. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The online postage provider posted revenue of $138.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $130.2 million.
Stamps.com expects full-year earnings in the range of $3.60 to $4.85 per share, with revenue in the range of $520 million to $560 million.
Stamps.com shares have decreased 70% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.27, a fall of 82% in the last 12 months.