Why Figs Stock Is Skyrocketing Today
Figs (NYSE: FIGS) stock is seeing strong gains in Friday's trading. The nursing-scrubs specialist's share price was up 27.4% as of 2:15 p.m. ET, according to data from S&P Global Market Intelligence.
Figs published results for its third quarter after the market closed yesterday. While the company's earnings were in line with the market's expectations, the business posted quarterly sales that topped Wall Street's target. Even better, it increased its full-year performance target.
Figs posted adjusted non-GAAP (generally accepted accounting principles) earnings per share of $0.03 on revenue of $142.4 million. Adjusted earnings were in line with the average analyst estimate, but sales managed to beat the forecast by roughly $11 million. Third-quarter revenue was up roughly 10.7% compared to performance in Q3 last year.
Source Fool.com
