Shares of Conn's Bounce 16% After 2nd Consecutive Profitable Quarter

Shares of Conn's Bounce 16% After 2nd Consecutive Profitable Quarter

Shares of Conn's Inc (NASDAQ: CONN), a specialty retailer selling household furniture, appliances, and accessories, are bouncing 16% higher Thursday as of 11 a.m. EST after the company announced strong third-quarter results for fiscal year 2018.

Conn's posted total revenue of $373.2 million during the third quarter, which managed to top the estimates of analysts surveyed by Zacks that called for $362.2 million. The strong top-line result filtered to the bottom line, with adjusted earnings per share (EPS) checking in at $0.18, compared to estimates of a more modest $0.04 adjusted EPS. More importantly, the third quarter represented the second consecutive quarter of profitability, and the company's credit segment recorded its highest spread in 11 quarters.

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Source: Fool.com