NerdWallet (NRDS) stock surged 14.54% in after-hours trading on Tuesday following the release of its impressive first-quarter earnings report, which significantly outperformed analysts' expectations across key financial metrics.
The personal finance company reported Q1 revenue of $209.2 million, beating the consensus estimate of $190.3 million by 9.96%. This represents a substantial 29.22% increase from the $161.90 million reported in the same period last year. NerdWallet's bottom line also showed remarkable improvement, with a net income of $200,000 compared to the expected loss of $7.85 million.
Other highlights from the earnings report include a pretax profit of $1.3 million, far exceeding the estimated loss of $9.12 million, and adjusted EBITDA of $21.1 million, nearly doubling the expected $12.1 million. The company's strong performance and positive outlook, including Q2 revenue guidance of $192-200 million and adjusted EBITDA forecast of $29-33 million, likely contributed to investors' enthusiasm, driving the stock's significant after-hours rally.
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