Why Afya Stock Edged Higher Today
Brazil-based medical education company Afya (NASDAQ: AFYA) edged past many stocks in the market on Tuesday. The share price improved by 2.4%, which was sufficient to top the 1.9% increase of the bellwether S&P 500 index. Investors were encouraged by the company's recent performance as indicated by its third-quarter results.
Afya published those figures after market hours on Monday, and they showed that the company's adjusted net revenue rose by almost 25% year over year to 723 million reals ($147 million). Headline net income also saw a double-digit improvement, as it came in 22% higher at 98.2 million reals ($20 million). On a per-share basis, that shook out to 1.03 reals ($0.21).
That meant a mixed quarter for Afya, as analysts tracking the South American stock were estimating it would earn less than 718 million reals ($146 million). However, they were also modeling a higher per-share net income figure of 1.29 reals ($0.26).
Source Fool.com
