The company posted net income of $27.8 million, or 13 cents per share, significantly outpacing the 5 cents per share forecast by FactSet analysts. This performance marks a sharp improvement over the $20.5 million, or 10 cents per share, recorded during the same period last year. Revenue climbed to $188.6 million, rising from $170.4 million in the prior-year quarter.
In section Market Quotes
Cricut Stock Surges Following Earnings Beat and Dividend Announcement
Investors pushed Cricut shares up 33% to $7.92 on Tuesday morning after the craft-technology company reported third-quarter results that shattered Wall Street expectations. The stock briefly touched a new 52-week high of $8.04, fueled by a surprise special dividend announcement and double-digit growth in quarterly net income.
Alongside the financial gains, Cricut reported steady growth in its user base. Paid subscribers reached 3.07 million, while active users climbed to 6 million, both representing a 2% increase. Shareholders are set to receive a special dividend of 70 cents per share, payable in January, further bolstering market sentiment.
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