Trupanion Shares Jump 12% as Third-Quarter Loss Narrows, Pet Enrollment Grows
November 02 2023 - 5:39PM
Dow Jones News
By Paul Ziobro
Shares of Trupanion jumped in late trading on Thursday after the
pet insurance company posted a narrower-than-expected third-quarter
loss on a 19% increase in enrollment.
The stock was up 12% in after-hours trading to $25.54. Shares
ended Thursday's regular trading session up 11.8% at $22.87, which
left them down a little more than 50% for the year.
The Seattle-based company on Thursday reported a net loss of $4
million, or 10 cents a share, for the quarter-ended Sept. 30,
compared with a loss of $12.9 million, or 32 cents a share, in the
same period a year ago.
Analysts recently polled by FactSet expected a loss of 31
cents.
Revenue rose 22% to $285.9 million, topping analyst estimates of
$275 million. The company said that it had 1.7 million enrolled
pets at the end of the quarter.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
November 02, 2023 17:24 ET (21:24 GMT)
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