Stitch Fix Shares Jump 30% On Strong Q3 Results

(RTTNews) - Shares of Stitch Fix Inc. (SFIX) jumped 30% in extended trading on Wednesday after the company's third-quarter earnings and revenues trounced Wall Street estimates.

Third-quarter net income rose to $7.05 million or $0.07 per share from $9.45 million or $0.09 per share last year.

Net revenues for the third quarter rose 29% to $408.89 million from $316.74 million last year.

Analysts polled by Thomson Reuters estimated loss of $0.03 per share and revenues of $394.85 million for the quarter.

The company reported active clients of 3.1 million, an increase of 17% year over year.

"These results demonstrate our ability to attract new clients and to serve our existing clients well. The continued strength of our Women's category and the growth of our Men's category give us even more confidence in our ability to scale new categories and geographies," said Stitch Fix founder and CEO Katrina Lake.

SFIX closed Wednesday's trading at $23.57, down $0.55 or 2.28% on the Nasdaq. The stock, however, gained $7.15 or 30.34% in the after-hours trade.