Why Chewy Stock Is Bouncing Higher After Hours
Portfolio Pulse from Adam Eckert
Chewy, Inc. reported strong Q1 results with revenue increasing 14.7% YoY to $2.78 billion, beating consensus estimates of $2.73 billion. Non-GAAP quarterly earnings were 20 cents per share, and gross margin was 28.4%. Net sales per active customer and Autoship customer sales reached new record highs.
May 31, 2023 | 8:44 pm
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POSITIVE IMPACT
Chewy's Q1 revenue surpassed estimates, with strong YoY growth and record highs in net sales per active customer and Autoship customer sales. Shares traded higher after hours.
Chewy's strong Q1 results, including revenue growth and record highs in net sales per active customer and Autoship customer sales, indicate a positive short-term impact on the stock price. The after-hours trading increase supports this analysis.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100