HomeInvesting NewsChewy Stock Drops After Q2 Revenue Misses The Mark

Chewy Stock Drops After Q2 Revenue Misses The Mark

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Chewy Inc. (NYSE:CHWY) just reported earnings, and clearly, my dog is super excited about them.

Let’s go back to the office and break them down.

When it comes to earnings per share, they made $0.05, and that was actually a surprise considering the analysts were expecting them to lose $0.11 on the quarter.

And the reason why the stock is down, we’ll take a look at that in a second, is because of revenue and guidance.

Chewy’s Revenue Growth is Slowing

Revenue for the second quarter came in at $2.43 billion when the estimate was $2.48 billion. And revenue growth is slowing.

It was a lot higher in the past couple of years than what it is now. They only grew 12.8% year over year. And as for revenue guidance for full-year 2022, they previously guided about 10.2 to 10.4 billion, now they cut that to 9.9 to $10 billion.

And the stock is down about 15% since these earnings came out, and it’s down almost 40% in the past couple of weeks.

What do you guys think? Follow along for more.

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