Chewy Q1 Results Beat Estimate; Shares Jump 11% After Hours

(RTTNews) - Chewy, Inc. (CHWY) on Wednesday reported first-quarter results that beat earnings and revenue estimates. The shares rose 11% in the after-hours trade.

The first-quarter net income came in at $22.2 million or $0.5 per share, compared to the income of $18.4 million or $0.04 per share in the same period a year earlier.

Adjusted income was $87.2 million or $0.20 per share, compared to $45.6 million or $0.11 per share the prior year. It surpassed the analyst consensus estimate loss of $0.04 per share.

The company's revenue for the quarter rose to $2.78 billion from $2.42 billion last year, exceeding the analyst consensus estimate of $2.73 billion.

Wednesday, the stock is $33.00 after hours, up 11% or 3.51 a share, on The New York Stock Exchange.