CMPR - Why Cimpress Stock Skyrocketed Today
2024-02-01 19:02:00 ET
Shares of Cimpress (NASDAQ: CMPR) rose 21.7% on Thursday after the mass-customization specialist announced strong fiscal second-quarter 2024 results.
For its fiscal second quarter 2024 ended Dec. 31, 2023, Cimpress' revenue grew 9% year over year to $921.4 million. This translated to net income of $58.1 million, or $2.14 per share. Analysts, on average, were only expecting earnings of $1.24 per share on revenue of $892.1 million.
Cimpress CEO Robert Keane credited the company's relative outperformance to a combination of revenue growth, margin expansion, advertising leverage, and lower operating expenses.
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Why Cimpress Stock Skyrocketed Today