Stitch Fix, Inc. (NASDAQ: SFIX), a leading provider of online personal styling services, Monday said its third-quarter net loss narrowed as revenues increased 44%. The results also topped the market’s expectations.
The San Francisco, California-based company had around 4.1 million active clients at the end of the third quarter. It reported a net loss of $18.8 million or $0.18 per share for the three-month period, which is narrower than last year’s loss of $33.9 million or $0.33 per share. Analysts had forecast a bigger loss for the latest quarter.
Revenues moved up to $535.6 million in the April quarter from $371.7million in the corresponding period of last year. The top-line also beat the consensus estimate.
Stitch Fix’s shares have gained 63% in the past six months. They closed Monday’s regular session higher and continued to gain in the after-hours soon after the announcement.
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