STMP - Coronavirus Isn't Slowing Down Stamps.com One Bit
Forty-seven U.S. states under full or partial lockdown; 1.3 million Americans infected with COVID-19; 77,000 dead; and 30 million Americans unemployed.
With numbers like these, you wouldn't expect business to be booming for a company like Stamps.com (NASDAQ: STMP), which makes its money primarily by reselling postage to ship packages in a thriving economy. And yet, on Thursday, Stamps.com reported that its sales grew 11% in the first quarter of 2020, reaching $151.3 million (more than any analyst had predicted), and with earnings up 4% as well -- also ahead of estimates.
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