Stitch Fix Inc (NASDAQ: SFIX) stock is trading higher Tuesday morning after the company announced better-than-expected financial results.
What Happened: Stitch Fix reported a quarterly earnings loss of 18 cents per share Monday, which beat the Street estimate for a loss of 27 cents per share. The company reported quarterly revenue of $535.6 million, which beat the estimate of $510.54 million.
“In Q3 we delivered $536 million in net revenue, reflecting 44% year-over-year growth, and grew our active client count to more than 4.1 million, reflecting 20% year-over-year growth and our second highest quarter-over-quarter active client additions ever,” Elizabeth Spaulding, the president and incoming CEO of Stitch Fix, said in a statement.
Related Link: Stitch Fix: Q3 Earnings Insights
Spaulding will participate in a virtual fireside chat at the Baird Global Consumer, Technology, and Services Conference on June 10.
SFIX Price Action: Stitch Fix has traded as high as $113.75 and as low as $21.60 over a 52-week period.
At last check Tuesday, the stock was up 12% in premarket trading at $64.90.
Photo by Angie Six from Flickr.
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