Petco jumps after Q1 revenue beats estimates

Petco Health and Wellness

22/05/2024 15:06

(Updates)
    ** Shares of Petco Health and Wellness  WOOF.O  jump 26% to
$3.10
    ** Animal health products maker reports Q1 revenue of $1.53
bln vs analysts' estimate of $1.51 bln - LSEG
    ** Q1 adj. net loss per share 4 cents vs analysts' estimates
of loss of 7 cents per share
    ** Forecasts second-quarter adj. net loss per share of 2
cents, in line with analysts average estimate
    ** Analysts at brokerage Jefferies said the results show
signs of stability
        ** "Opportunities to drive topline growth and regain
market share will become more visible once the business is on
more stable footing" - brokerage 
  
    ** Including session's gain, stock down about 2% YTD

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))