FlexShopper: Jumps 50% on surprise Q3 profit

FlexShopper

05/11/2019 13:30

** Shares of lease-to-own goods company  FPAY.O  up 50% at
$2.64 premarket - set to open at their highest in over a year 
    ** FlexShopper posts a surprise Q3 profit of 4 cents on
Monday; analysts on average had expected a loss of 11 cents 
    ** Company's third stright earnings beat
    ** FPAY's Q3 revenue above Wall St. est, helped by growth in
its B2B channel and repeat customer activity
    ** Stock among the biggest gainers across U.S. exchanges
    ** Average cost to acquire a new customer in Q3 halved to
$67 from $133 in the year-ago quarter - FPAY
    ** Expansion of retail channel has translated into
substantial increase in margins and bottomline results and we
see ample avenues to continue our growth - CEO Rich House
    ** Up to Monday, the stock had more than doubled this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))