Stamps.com stock shoots toward record after earnings

Stamps.com Inc. shares rose toward record highs in late trading Thursday after reporting better profit and sales than expected. The online retailer reported first-quarter net income of $33.1 million, or $2.54 a share, with the same per-share figure after adjustments, which is up from $1.83 a year ago. Revenue of $133.6 million was up 27% from $105 million a year ago. Analysts on average expected adjusted earnings of $1.92 a share on sales of $122.4 million, according to FactSet. "We achieved strong growth driven by continued success in the shipping area of our business," Chief Executive Ken McBride said in Thursday's announcement. Shares jumped as much as 7% in after-hours trading, pushing prices to levels that would be records if reached in a regular trading session. The stock closed with a 1.5% decline at $228.35, and has gained 21.5% so far this year, as the S&P 500 index has declined 1.4%.