Chewy surprises investors with Q1 results: Stock up 25%

“Fiscal year 2022 is off to a good start as we drove solid 14 percent top-line growth and delivered sequential improvements in gross margin and profitability,” Chewy CEO, Sumit Singh.

Shares of the online pet supplier Chewy (NYSE: CHWY) jumped more than 20% in the extended trading session on Wednesday after the company reported stronger-than-expected Q1 financial results. Chewy’s revenue increased 14%, to $2.43 billion, from $2.14 billion in the year-ago quarter.

Earnings per share (EPS) $0.4 vs. -$0.13 expected

Revenue $2.43 billion vs. $2.42 billion expected

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