U.S. Markets open in 3 hrs 39 mins

Stamps.com tops Street 1Q forecasts

EL SEGUNDO, Calif. (AP) _ Stamps.com Inc. (STMP) on Wednesday reported first-quarter net income of $33.1 million.

The El Segundo, California-based company said it had profit of $1.82 per share. Earnings, adjusted for one-time gains and costs, came to $1.83 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.

The online postage provider posted revenue of $105 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $94.4 million.

Stamps.com expects full-year earnings in the range of $7 to $8 per share, with revenue in the range of $405 million to $430 million.

Stamps.com shares have declined nearly 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $110.55, a climb of 33 percent 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

_____

Keywords: Stamps.com, Earnings Report