Why Riskified Stock Popped Today
Shares of e-commerce technology company Riskified (NYSE: RSKD) popped on Tuesday after reporting financial results for the second quarter of 2023. The company's Q2 revenue jumped 21% year over year, thanks to growth in most of the e-commerce categories in which it does business.
Importantly, Riskified's gross profit margin was 51% in Q2 -- stable from the prior-year quarter. The company's revenue growth and profit margin stability are big reasons why Riskified stock was up 8% as of 10:30 a.m. ET. Shares had been up as much as 13% earlier in the trading session.
Whereas Riskified generated Q2 revenue of $72.8 million, the analyst community expected revenue closer to $71 million. This modest outperformance of expectations was enough to cause the stock to jump, at least today.
Source Fool.com
