EL SEGUNDO, Calif. (AP) _ Stamps.com Inc. (STMP) on Wednesday reported first-quarter profit of $15.8 million.
The El Segundo, California-based company said it had net income of 87 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.23 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The online postage provider posted revenue of $136 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $126.8 million.
Stamps.com expects full-year earnings in the range of $3.35 to $4.85 per share, with revenue in the range of $510 million to $560 million.
Stamps.com shares have dropped 46% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $83.39, a decline of 65% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STMP at https://www.zacks.com/ap/STMP