Why NerdWallet Shares Are Trading Higher Today

NerdWallet, Inc. NRDS shares are trading higher Wednesday after the company reported better-than-expected fourth-quarter EPS and sales results.

After the market closed on Tuesday, NerdWallet announced its earnings results for the quarter ending Dec. 31, 2022. The company reported favorable results, beating analyst expectations.

The Details: NerdWallet reported quarterly earnings of $0.12 per share, beating the analyst consensus estimate of $0.07 per share, resulting in a positive earnings surprise of 71.43%. Additionally, NerdWallet's EPS results marked a significant improvement over losses of $0.13 per share during the same period last year.

The company reported quarterly sales of $142 million, beating analyst expectations of $139.42 million, representing a positive earnings surprise of 1.85%. This marks a 42.71% increase in revenue from the $99.5 million the company reported during the same period last year.

Additionally, NerdWallet provided guidance for the first quarter of 2023. The company expects revenue to be in the range of $165 million-$170 million, representing an increase of 30% year-over-year at the midpoint.

See Also: Best Fintech Stocks For February 2023

Tim Chen, CEO and co-founder of NerdWallet, noted, "Our successful investment in our three pillars of growth — 'Land and Expand,' 'Vertical Integration,' and 'Registrations and Data-Driven Engagement' — put us several steps further in our journey towards becoming a trusted financial ecosystem."

NerdWallet has said it's on a mission to provide clarity for all of life's financial decisions. As a personal finance website and app, NerdWallet provides consumers with trustworthy and knowledgeable financial information so they can make smart money moves.

According to data from Benzinga Pro, NerdWallet was up 23.9%, trading at $17.71 at the time of publication. The stock has a 52-week high of $15 and a 52-week low of $7.07.

Photo: courtesy of NerdWallet.