Stitch Fix Q2 Results Top Street Estimates, Shares Jump 20%

(RTTNews) - Shares of Stitch Fix Inc. (SFIX) jumped 20% in after-hours trading session Monday after the company's second-quarter earnings and revenues trumped Wall Street estimates.

Second-quarter net income rose to $11.97 million or $0.12 per share from $3.64 million or $0.02 per share last year.

Net revenues for the second quarter rose 25% to $370.28 million from $295.91 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.05 per share and revenues of $364.89 million for the quarter.

Active clients of 3.0 million, an increase of 18% year over year.

"Q2 was another strong quarter for us, delivering net revenue of $370.3 million, exceeding our guidance and representing 25% year-over-year growth," said Stitch Fix Founder and CEO Katrina Lake. "Since becoming a public company, we have posted six consecutive quarters of over 20% growth, which demonstrates our ability to drive consistent business performance."

SFIX closed Monday's trading at $26.98, up $1.28 or 4.98% on the Nasdaq. The stock further gained $5.40 or 20.01% in the after-hours trade.