STMP - Why Stamps.com's Stock Dropped 19.5% on Thursday
Shares of Stamps.com (NASDAQ: STMP) fell as much as 19.5% in trading on Thursday after announcing fourth-quarter 2020 financial results. Some of those losses were clawed back late in the day, but shares still lost 15.6% at the close of the market.
Revenue jumped 28% versus a year ago to $206 million, and net income rose 129% to $46.5 million, or $2.36 per share. On an adjusted basis, earnings were $4.13 per share, up 95% from a year ago. Analysts were only expecting $189 million in revenue and $2.62 per share in earnings on an adjusted basis, so it wasn't Q4 results that disappointed investors.
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Why Stamps.com's Stock Dropped 19.5% on Thursday