Pitney Bowes Earnings: Here’s Why Investors Cheered Shares Higher
Pitney Bowes Inc. (NYSE:PBI) delivered a profit and beat Wall Street’s expectations, AND met the revenue expectation. Shares are up 20.28%.
Pitney Bowes Inc. Earnings Cheat Sheet
Results: Net income decreased -57.16% to $110.3 million (56 cents per diluted share) in the quarter versus a net gain of $257.47 million in the year-earlier quarter.
Revenue: Decreased 3.78% to $1.29 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pitney Bowes Inc. reported adjusted net income of 56 cents per share. By that measure, the company beat the mean analyst estimate of $0.51. It met the average revenue estimate of $1.29 billion.
Revenue increased 6.11% from $1.22 billion in the previous quarter. Net income increased 44.13% from $76.53 million in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.45 and has not changed. For the current year, the average estimate has moved down from a profit of $2.02 to a profit of $1.99 over the last ninety days.
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(Company fundamentals provided by Xignite Financials.)