Why Stitch Fix Stock Jumped Higher on Wednesday

Stitch Fix (NASDAQ: SFIX) shares were up 14.7% as of 10:32 a.m. EDT on Wednesday, after another blowout quarter. The company delivered solid earnings results for the fiscal fourth quarter. Revenue grew 29% year over year to reach $571 million, beating the consensus estimate calling for $547 million. The company even delivered a surprise profit, reporting earnings per share of $0.19, compared to analysts' expectations for a loss of $0.13.

The latest results follow the previous quarter's revenue growth of 44% year over year. Despite signs of momentum building in the previous quarter, the stock had been spiraling downward in recent weeks, reflecting very low expectations for the fiscal fourth quarter. 

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Source Fool.com