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ThredUp soars on Q2 earnings beat and record quarterly revenue

ThredUp surged 8% in after-hours trading Monday after the online resale platform posted stellar Q2 earnings results.

Losses per share came in at $0.04, slightly ahead of the $0.05 loss analysts polled by FactSet were expecting. Revenue came in at a quarterly record of $77.7 million, up 16% from a year ago and well ahead of Street estimates of $73.8 million and the the company’s previous guidance of $72.5 million to $74.5 million.

The stock has soared over 500% in the past 12 months, buoyed largely by growing millennial and Gen Z demand for secondhand apparel and broader retail interest in sustainable fashion.

In an interview with Sherwood News, CEO James Reinhart said the company has benefited from being “laser-focused” on the US market and leveraging AI both under the hood and in customer-facing features.

Prior to the earnings move, ThredUp shares were up 586% year to date.

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Netflix rises on announcement of its 10-for-1 stock split

Netflix’s subscription prices keep rising, but its shares are about to get a bit cheaper.

On Thursday, the streamer announced it’ll perform a 10-for-1 forward stock split. On November 17, traders who own a single Netflix share will own 10 shares, though the company’s underlying value will remain the same.

Netflix shares have surged about 270% over the past three years to $1,089 as of today’s close, as the streamer has captured more of the streaming market share. The stock rose roughly 3% in after-hours trading on Thursday following the announcement.

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