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Blue Apron Reports Mixed Q2 Earnings

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Blue Apron Reports Mixed Q2 Earnings

Blue Apron Holdings (NYSE: APRN) reported second-quarter losses of 59 cents per share, which beat the analyst consensus estimate of a $1.08 loss. This is a 247.06% decrease over losses of 17 cents per share from the same period last year.

The company reported quarterly sales of $119.166 million, which missed the analyst consensus estimate of $138.09 million by 13.7%. This is a 33.63% decrease over sales of $179.556 million the same period last year.

"Blue Apron's next phase will be defined by focusing on our customers and our core business in order to return the business to growth in 2020," said Linda Findley Kozlowski, Blue Apron CEO.

"We've clearly and thoroughly demonstrated results in operational optimization and fiscal discipline throughout the organization. Now, we need to prove we can grow our customer base and revenue through both better execution and new initiatives that enable our core business to reach its full potential. Our market opportunity is large and we believe that it is growing, leading to significant unrealized opportunity within our core business once we execute our strategy."

Blue Apron shares were trading up 2.17% at $8 in Tuesday’s pre-market session. The stock has a 52-week high of $35.40 and a 52-week low of $6.10.

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