Stitch Fix is surging after crushing earnings
- Stitch Fix beat on both the top and bottom lines.
- Shares were up 94% since going public in November 2017.
- Watch Stitch Fix trade live.
Stitch Fix, an online subscription and personal styling service, surged 13.7% to $30.40 a share Monday evening after posting strong profits that more than doubled the Wall Street consensus.
The company posted adjusted earnings of $0.12 a share, beating the $0.05 that analysts surveyed by Bloomberg were expecting. It netted $370 million of revenue, topping the $364.9 million that was forecast.
"Since becoming a public company, we have posted six consecutive quarters of over 20% growth, which demonstrates our ability to drive consistent business performance," said Stitch Fix Founder and CEO Katrina Lake in a press release.
"I'm proud that we're now serving 3 million people across the U.S. and remain focused on delighting our existing clients and expanding our reach."
Shares were up 94% since going public in November 2017.
