Source: HelloFreshShares of German meal kit firm HelloFresh jumped on Tuesday after the company reported a better-than-expected profit in the second quarter and said its ready-to-eat meals segment saw rapid growth.
HelloFresh shares climbed as much as 20% during morning trade, but had pared gains to rise 11% to 5.90 euros ($6.44) as of 6:19 a.m.
The figure was down 23.7% from the same period last year, but exceeded the 123 million euros forecast of analysts surveyed by LSEG.
Revenues at the firm increased by 1.7% in the quarter, to 1.95 billion euros, HelloFresh said.
In March, HelloFresh shares plunged as much 42% suffering their worst-ever session to date after the company disappointed investors with its 2024 annual earnings outlook.
Persons:
HelloFresh
Organizations:
LSEG, UBS
Locations:
North America