Stamps.com: 2Q Earnings Snapshot
EL SEGUNDO, Calif. (AP) _ Stamps.com Inc. (STMP) on Wednesday reported second-quarter profit of $45.5 million.
The El Segundo, California-based company said it had net income of $2.41 per share. Earnings, adjusted for one-time gains and costs, came to $2.75 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.
The online postage provider posted revenue of $139.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $134.3 million.
Stamps.com expects full-year earnings in the range of $10.15 to $11.15 per share, with revenue in the range of $530 million to $560 million.
Stamps.com shares have climbed 37 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $258.30, an increase of 70 percent in the last 12 months.