Poshmark (POSH, $48.21) beats Q4 earnings estimates; but issues sales guidance below expectations
Poshmark reported fourth quarter earnings that exceeded analysts’ expectations, in its first financial report since going public in January. But the online marketplace issued a sales outlook that is below analysts’ forecasts.
For the quarter ended Dec. 31, Poshmark’s loss narrowed to $4.06 million, or 31 cents a share, from a loss of $14.75 million, or $1.20 a share, a year earlier. After adjusting for one-time items, the company earned 5 cents a share during the quarter, beating analysts' expectations of 1 cent a share.
For the first quarter, Poshmark is expecting revenuerange of $75.5 million to $77.5 million. Analysts had been calling for $79.2 million on average.
Poshmark filed to go public in December, and debuting on the Nasdaq on Jan. 14, at $97.50 per share. The stock price has been falling since, hitting an all-time intraday low of $44.11 last Friday.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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