Chewy shares rise 2% on strong surge in revenue
Chewy Inc.
CHWY,
shares were up 2% in after-hours trading Thursday after the online retailer of pet food and other pet-related products reported fiscal second-quarter results that beat Wall Street estimates. Chewy reported a loss of $32.8 million, compared with a loss of $82.9 million in the year-ago quarter. Revenue surged 47% to $1.7 billion from $1.15 billion a year ago. Analysts surveyed by FactSet had expected a loss of 17 cents a share on revenue of $1.64 billion. Chewy shares are up 106% this year. The broader S&P 500 index
SPX,
has improved 3% in 2020.
