Blue Apron Up 5% Following Q1 EPS Beat
Blue Apron Holdings Inc (NYSE: APRN) reported Q1 earnings with a smaller loss and an increase in net revenue.
What Happened
The company reported a net revenue increase of 5 percent from the Q4 2017 and a 20 percent decrease year over year. Net loss was $31.7 million, which was an improvement from the net loss of $52.2 from Q1 2017 and from the net loss of $39.1 from Q4 2017. The market expected a loss of 24 cents per share, while Blue Apron reported a loss of 17 cents per share.
Why It's Important
CEO Brad Dickerson was pleased by the progress. There was a significant improvement in operational efficiencies and it was reflected by the company's margin performance, which was the strongest since Q2 2016, Dickerson said in a press release.
When it comes to the key customer metrics, customers decreased 24 percent year-over-year and increased 5 percent quarter-over-quarter. Average revenue per customer increased to $250 from $236 in Q1 2017, and $248 in Q4.
What's Next
Dickerson said he looks forward to building on this momentum as the company continues to optimize its direct-to-consumer business, create new products that complement core offering, and leverage new distribution channels, including the newly launched pilot program with Costco (NASDAQ: COST).
The stock was trading 5 percent higher at $2.23.
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Photo courtesy of Blue Apron.
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