Why Blue Apron Stock Is Falling Today?
Portfolio Pulse from Anusuya Lahiri
Blue Apron Holdings, Inc (NYSE:APRN) reported a Q2 FY23 sales decline of 14.5% YoY to $106.3 million, missing the consensus of $109.4 million. Orders fell 17.5% YoY, while the average order value rose 12.7% to $75.66. The company expects FY23 net revenue of $410.0 million - $415.0 million vs consensus $405.69 million. APRN shares traded lower by 4.24% at $5.42 on the last check Wednesday.
August 09, 2023 | 6:31 pm
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Blue Apron's Q2 FY23 sales declined by 14.5% YoY, missing consensus. The company expects FY23 net revenue of $410.0 million - $415.0 million. APRN shares traded lower by 4.24%.
Blue Apron's Q2 FY23 sales and orders declined YoY, missing the consensus. This negative financial performance is likely to impact investor confidence, leading to a decrease in the stock price. However, the company's future revenue expectations are higher than the consensus, which might mitigate the negative impact to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100