Shares of Liquidity Services (NASDAQ: LQDT) skyrocketed today, up by 17% as of 11:40 a.m. EST, after the company reported fiscal fourth-quarter earnings. The results topped expectations and the company issued a rosy forecast for next quarter.
Revenue in the fiscal fourth quarter was $55.9 million, easily beating the consensus estimate of $53.5 million. That resulted in adjusted net income of $7.9 million, or $0.23 per share, while Wall Street analysts were looking for just $0.01 per share in adjusted profits. Liquidity Services, which operates a business-to-business (B2B) e-commerce technology platform , reported total gross merchandise volume (GMV) of $196.9 million and adjusted EBITDA of $9 million.
Image source: Getty Images.
For further details see:
Why Liquidity Services Stock Skyrocketed Today