FNKO - Why Funko Stock Is Soaring Today
2023-11-03 13:55:00 ET
Funko (NASDAQ: FNKO) stock is seeing big gains in Friday's trading. The collectible-figurine specialist's share price was up 18.4% as of 1:45 p.m. ET, according to data from S&P Global Market Intelligence .
Funko published third-quarter earnings results after the market closed yesterday, and its sales and earnings performance topped Wall Street's expectations. The company reported a non-GAAP (adjusted) profit of $0.03 per share on sales of $312.9 million, beating the average analyst earnings target by $0.08 per share and the average sales target by roughly $23.3 million.
While Funko's sales dropped roughly 14% year over year in Q3, its performance still managed to beat the market's expectations. Similarly, adjusted earnings per share dipped 89% compared to the same period last year but still managed to beat the average Wall Street target.
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Why Funko Stock Is Soaring Today