ThredUp Shares Rise Despite Q2 EPS Miss & Worse Than Expected Outlook
2022.08.16 00:30
ThredUp Shares Up 3% Despite Q2 EPS Miss & Worse Than Expected Outlook
By Davit Kirakosyan
Investing.com – ThredUp (TDUP) shares rose more than 3% higher after-hours despite the company’s reported Q2 EPS miss and lowered outlook.
EPS came in at ($0.29), worse than the consensus estimate of ($0.21). Revenue grew 27% year-over-year to $76.4 million, slightly better than the consensus estimate of $76.17 million. Q2 active buyers grew 29% year-over-year to 1.7 million and orders grew 40% year-over-year to 1.7 million.
“As our consumer is faced with an uncertain economic environment and rising costs, we are focused on the variables within our control. We believe our model is uniquely positioned to weather macroeconomic volatility, and are confident that as we re-evaluate our cost base, we can make progress towards profitability and continue to strengthen our position in the growing resale market,” said James Reinhart, the CEO and co-founder of ThredUP.
The company expects Q3/22 revenue in the range of $64-66 million, worse than the consensus estimate of $80.23 million. For the full 2022-year, the company expects revenue in the range of $283-287 million, compared to the consensus estimate of $318.18 million.
