AI-Summary – News For Tomorrow
Chewy’s stock (CHWY) dropped 9% despite Q2 revenue exceeding expectations at $3.1 billion, an 8.6% year-over-year increase. While earnings per share met analyst estimates at $0.14, this represented a $0.54 decline from the previous year. The company reported 20.9 million active customers, with net sales per active customer rising 4.6% to $591 million. The market reaction suggests investor concern over the year-over-year profit drop despite positive revenue growth and customer engagement metrics.
News summary provided by Gemini AI.
Shares of the online pet supplies retailer Chewy (CHWY) fell 9% on Wednesday morning after the company reported a $0.54 per share profit drop compared to the same quarter a year ago.
Chewy posted diluted earnings per share of $0.14, meeting Wall Street analyst estimates, according to S&P Global Market Intelligence.
In the second quarter, revenue increased 8.6% year over year to $3.1 billion, coming in above estimates of $3.08 billion. Chewy said it had 20.9 million active customers at the end of the quarter, and net sales per active customer grew 4.6% to reach $591 million.
Listen to the earnings call live here.
