Hims & Hers Health (NYSE:HIMS) stock is soaring higher on Wednesday thanks to the company’s earnings report for the fourth quarter of 2021.
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Let’s dive into that earnings report below to see why investors in HIMS stock are smiling.
- First off, the company reported revenue of $84.7 million.
- That’s more than double the $41.47 million reported during the same period of the year prior.
- It also sees the company easily beating out Wall Street’s revenue estimate of $76.79 million for the quarter.
- That strong revenue is pulling HIMS stock higher even with earnings per share pulling down on the report.
- The telehealth company’s adjusted EPS for Q4 came in at -15 cents.
- That’s the same as what was reported in the fourth quarter of 2020.
- It also has Hims & Hers Health missing analysts’ estimate of -7 cents per share.
- Fortunately, guidance for the first quarter of 2022 is helping HIMS stock out today.
- The company expects revenue for the quarter to range from $90 million to $93 million.
- That would have it handily beating out Wall Street’s Q1 revenue estimate of $77.92 million.
- Full-year 2022 revenue guidance of $365 million to $380 million is also helping out HIMS stock.
- Even at the low end, it’s higher than the $350.75 million in revenue that analysts’ are expecting this year.
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Andrew Dudum, co-founder and CEO of Hims & Hers Health, said the following in the earnings report.
‘We believe these results showcase that our mission to offer high quality, convenient, and affordable care through a more modern, personalized platform is being adopted today as more patients than ever, across multiple age and demographic groups, are engaging with Hims & Hers in their health and wellness journey via multiple channels.”
HIMS stock is up 23.7% as of Wednesday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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