Stitch Fix (NASDAQ:SFIX) unveiled its latest quarterly earnings results late today, bringing in a profit that surpassed what analysts called for, while its sales were also stronger than the Wall Street consensus estimate, playing a role in lifting SFIX stock more than 25% after hours Wednesday.
The San Francisco-based online personalized styling service announced that for its third quarter of its fiscal 2019, it posted net income of $7 million, or 7 cents per share, a decline compared to its year-ago profit of $9.5 million, or 9 cents per share. Nevertheless, the profit was well ahead of what analysts called for as a Refinitiv survey predicted a loss of 3 cents per share.
Stitch Fix added that its revenue for the three-month period tallied up to $408.9 million, coming in ahead of the $394.9 million that Wall Street projected in its consensus estimate. The number of active clients on the subscription service increased 17% when compared to the year-ago quarter, reaching 3.1 million.
For 2019, the company now sees a higher revenue guidance at $1.57 billion to $1.58 billion, above the previous outlook of $1.53 billion to $1.56 billion. For its fourth quarter, Stitch Fix sees its sales in the range of $425 million and $435 million, while adjusted EBITDA will be between $5 million and $10 million.
SFIX stock is up about 25.7% after the bell today following the impressive quarterly performance from the styling service. Shares had been down 2.3% during regular trading hours in anticipation of the company’s results.