Why Revolve Group Stock Soared on Friday
Shares of Revolve Group (NYSE: RVLV) soared on Friday, up by 14% at 11:30 a.m. EST, after the company reported first-quarter earnings. The results handily beat expectations, and Revolve expressed optimism about economic recovery.
Revenue in the first quarter increased 22% to $178.9 million, topping the consensus estimate of $156.3 million. That resulted in net income of $22 million, or $0.30 per share. Wall Street analysts were looking for just $0.12 per share in profit. The online fashion retailer said active customers were 1.48 million, orders placed were 1.3 million, and the average order value was $256.
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Source Fool.com
