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Stamps.com tops Street 3Q forecasts

EL SEGUNDO, Calif. (AP) _ Stamps.com Inc. (STMP) on Thursday reported third-quarter profit of $46.2 million.

The El Segundo, California-based company said it had net income of $2.49 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.68 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.

The online postage provider posted revenue of $115.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $109.4 million.

Stamps.com expects full-year earnings in the range of $9 to $10 per share, with revenue in the range of $435 million to $460 million.

Stamps.com shares have risen 93 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $221.25, more than doubling 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