Why Party City Shareholders Are Celebrating

Why Party City Shareholders Are Celebrating

Shareholders of Party City (NYSE: PRTY) stock are partying like it's 1999 (so to speak) on Thursday, after the costumes and party supplies retailer reported Q3 2017 earnings that met Wall Street's expectations for the quarter -- sort of.

Party City reported pro forma earnings of $0.13 per share for its fiscal Q3, in line with analyst estimates. The company only reported $560.1 million in revenue, however, versus the Street's expectation of $587.5 million. Yet the stock is up 19.9% as of 2:45 p.m. EST.

Party City investors are a happy bunch Thursday afternoon. Image source: Getty Images.

Continue reading

Source: Fool.com