Why NerdWallet Stock Jumped 40% After Earnings
Finance nerds are having their revenge on Friday as shares of personal finance website NerdWallet (NASDAQ: NRDS) are soaring in response to a big earnings beat. As of 12:34 p.m. ET, the stock was up by 43.8%.
Heading into the third quarter, analysts had forecast an $0.08 per share loss on $144.4 million in revenue for NerdWallet, but the company beat on both top and bottom lines. Sales for the quarter came in at $152.8 million, and while the company did lose money -- $0.01 per share -- that was a much smaller loss than analysts had expected.
Right. NerdWallet still did lose $0.01 per share, and this was a worse result than one year ago, when the company reported a $0.01 per share profit -- probably the result they were rooting for given that NerdWallet grew its sales 7% year over year.
Source Fool.com
