PetMed Express Earnings: Here’s Why Investors are Buying Shares
PetMed Express Inc. (NASDAQ:PETS) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up over 3%.
PetMed Express Inc. Earnings Cheat Sheet
Results: Net income increased 17.95% to $4.6 million (23 cents per diluted share) in the quarter versus a net gain of $3.9 million in the year-earlier quarter.
Revenue: Decreased 1.82% to $49.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: PetMed Express Inc. reported adjusted net income of 23 cents per share. By that measure, the company beat the mean analyst estimate of $0.18. It missed the average revenue estimate of $49.97 million.