In Thursday mornings trading, shares of The Kroger Co. (KR, Financial) fell after the company reported quarterly earnings. Earnings per share of 63 cents were in line with estimates. Revenue grew 12.4% year over year to $31.03 billion, beating analyst estimates by $200 million.
For the quarter, the gross margin was 21.9% of sales, a decline of 31 basis points from the same quarter last year.Ă‚ For the year, the gross margin was 22.0% of sales, a decrease of 19 basis points compared to 2016.
Comtech Telecommunications Corp. (CMTL, Financial) gained ground after the company reported its financial results for the second quarter of 2018. The company posted earnings of seven cents per share on $133.7 million in revenue, which was 3.8% lower than the figure reported a year ago. Moreover, the company beat earnings estimates by 15 cents and revenue expectations by $9.05 million.
Looking ahead, the company revised its revenue target to between $570 million and $585 million, up from the previous range of $550 million to $575 million. Earnings per share are now expected to range from $1.08 to $1.23, up from the previous forecast of 44 cents to 46 cents.Â
Shares of The Meet Group Inc. (MEET, Financial) plunged on the heels of the company reporting its financial results for the fourth quarter. The company posted adjusted earnings per share of 12 cents. The company’s revenue of $40.1 million grew 37.2% from the prior-year quarter. Moreover, the company managed to beat the earnings expectations by one cent and revenue estimates by $2.27 million.
“We believe that’s remarkable progress, particularly given that we’ve deployed video on only two of our four major apps, representing just 40% of our total daily active users," CEO Geoff Cook said. "We expect video revenue to continue to grow quickly in 2018 and beyond, as we seek to rapidly expand our daily video audience and improve our per-video-user monetization rates”.
Disclosure: The author holds no position in any stocks mentioned.
