Stamps.com Q2 Results Top Estimates, Lifts FY Outlook

(RTTNews) - Stamps.com (STMP), a provider of postage online and shipping software, reported that its second-quarter GAAP net income was $51.7 million, up 270% from $14.0 million in the second quarter of 2019. GAAP net income per share was $2.73, up 248% compared to $0.79 last year.

STMP closed Thursday regular trading at $262.34, down $21.61 or 7.61 percent. But, in the after-hours trade, the stock gained $50.41 or 19.22 percent.

Non-GAAP adjusted income per share was $3.11, up 148% compared to $1.25 in the second quarter of 2019.Analysts polled by Thomson Reuters expected the company to report earnings of $1.26 per share. Analysts' estimates typically exclude special items.

Quarterly total revenue was $206.7 million, up 49% from last year. Analysts expected revenue of $153.3 million for the quarter.

For fiscal year 2020, the company expects GAAP net income per share to be in a range of $3.93 to $6.70, compared to the previous guidance of $2.08 to $2.92.

The company raised its annual net income to a range of $79 million to $122 million from $41 million to $53 million.

The company now expects annual total revenue to be in a range of about $650 million to $725 million, compared to the previous guidance of $570 million to $600 million.