Hims & Hers Health Stock Climbs Following Q4 Earnings Beat, Revenue Beat, Guidance Above Estimates
Portfolio Pulse from Erica Kollmann
Hims & Hers Health, Inc. (NYSE:HIMS) reported Q4 earnings of 1 cent per share, surpassing the expected loss of 3 cents per share. Quarterly sales reached $246.62 million, beating estimates by 0.33% and marking a 47.5% increase year-over-year. Subscriber count rose to 1.5 million, a 48% increase. The company projects Q1 2024 revenue between $267 million and $272 million, and FY 2024 revenue between $1.17 billion and $1.20 billion, both above estimates. Shares surged 16.1% after-hours to $11.90.
February 26, 2024 | 9:31 pm
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POSITIVE IMPACT
Hims & Hers Health reported a significant beat on Q4 earnings and revenue, with a positive outlook for 2024, leading to a 16.1% increase in after-hours trading.
The positive earnings report and the optimistic revenue forecast for 2024 significantly exceed market expectations, which typically leads to increased investor confidence and a rise in stock price. The after-hours trading surge of 16.1% is a direct reaction to this news, indicating a strong short-term bullish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100