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Stamps.com tops Street 2Q forecasts

EL SEGUNDO, Calif. (AP) _ Stamps.com Inc. (STMP) on Wednesday reported second-quarter net income of $31 million.

The El Segundo, California-based company said it had profit of $1.71 per share. Earnings, adjusted for one-time gains and costs, were $2.08 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The online postage provider posted revenue of $116.1 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $99.2 million.

Stamps.com expects full-year earnings in the range of $7.50 to $8.50 per share, with revenue in the range of $435 million to $460 million.

Stamps.com shares have increased 32 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $151.30, a climb of 96 percent in the last 12 months.

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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

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Keywords: Stamps.com, Earnings Report