Why Warby Parker Rallied Over 50% in May
Shares of eyeglasses retailer Warby Parker (NYSE: WRBY) rallied 50.9% in May, according to data from S&P Global Market Intelligence. The company reported its first-quarter earnings results on May 9, and investors really liked what they heard. Digging into the numbers, there was a lot to like.
In the first quarter, Warby Parker grew revenue by 16.3% to exactly $200 million, with a net loss per share of $0.02. While the company recorded a small GAAP loss, both revenue and the bottom line handily beat earnings expectations. Furthermore, management upped its full-year guidance.
Perhaps most impressive was the reacceleration in revenue. The 16.3% growth marked a 4-percentage-point acceleration over the prior-year quarter's 12.2% growth and a 6-point acceleration over the first quarter of 2022's 10.3% growth.
Source Fool.com
