Wed, May 31, 2023 1:14 PM
STATS Perform dba Automated Insights
PLANTATION, Fla. (AP) — PLANTATION, Fla. (AP) — Chewy Inc. (CHWY) on Wednesday reported fiscal first-quarter net income of $22.2 million.
On a per-share basis, the Plantation, Florida-based company said it had profit of 5 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 20 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The online pet store posted revenue of $2.78 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $2.73 billion.
For the current quarter ending in July, Chewy said it expects revenue in the range of $2.75 billion to $2.77 billion.
The company expects full-year revenue in the range of $11.15 billion to $11.35 billion.