Open Table Beats On Earnings, Trades Up in After-Hours
On Tuesday after the close, Open Table (NASDAQ: OPEN) reported earnings.
The company blew away expectations, reporting earnings of $0.37 per share against an estimate $0.30 per share, and revenues of $37.2 million against an estimated $36.81 million.
In after-hours trading, Open Table traded up as much as 10% before pulling back slightly. Still, just minutes after reporting earnings, Open Table was up more than 6% from its closing price.
Interestingly, shares of Open Table ramped going into the close, after having traded in negative territory for most of Tuesday's session.
Open Table is an interesting stock as it has been under immense speculation in recent months. Shares trade at a PE ratio of roughly 64 and the stock has a tendency to trade as a momentum play.
Regardless, investors in the company may have enjoyed Tuesday's beat, while shorts may have taken quite a hit.
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