- Vroom Inc (NASDAQ:VRM) reported second-quarter FY21 sales growth of 201% year-on-year, to $761.89 million, beating the analyst consensus of $637.99 million.
- Ecommerce revenue jumped 230% Y/Y $579.7 million, and Ecommerce Unit Sales rose 172% Y/Y to 18,268.
- Revenue from Wholesale rose 151.6%, and Texas Direct Auto (TDA) increased 92.9%.
- The gross profit rose 729.9% Y/Y to $63.1 million with an 8.3% gross profit.
- The operating loss widened to $(63.8) million. Adjusted EBITDA loss was $(60.7) million.
- The company held $1.5 billion in cash and equivalents as of June 30, 2021.
- Adjusted loss per share of $(0.48) met the analyst consensus.
- Outlook: Vroom sees Q3 FY21 sales of $858 million – $891 million, versus the consensus of $690.58 million.
- The company expects Q3 loss per share of $(0.78) – $(0.73), versus the consensus of $(0.47).
- For FY21, Vroom continues to expect triple-digit year-over-year growth in ecommerce unit sales and more than 200% year-over-year growth in aggregate gross profit.
- Price Action: VRM shares closed lower by 1.40% at $37.96 on Wednesday.
Vertex Pharmaceuticals Q1 EPS $3.52 Beats $3.49 Estimate, Sales $2.10B Beat $2.08B Estimate
Vertex Pharmaceuticals (NASDAQ:VRTX) reported quarterly earnings of $3.52 per share which beat the analyst consensus estimate of $3.49 by 0.86 percent. This is a 18.12 percent increase over earnings of $2.98 per share
