Benzinga | Aug 6, 2020 02:51PM EDT

Why Waitr's Stock Is Trading Lower Today

Waitr Holdings (NASDAQ:WTRH) shares were trading lower on Thursday after the company reported second-quarter earnings.

The company reported quarterly earnings of 10 cents per share. This is a 131.25% increase over losses of 32 cents per share from the same period last year. Waitr Holdings reported $60.50 million in sales this quarter. This is a 17.84% increase over sales of $51.34 million in the same period last year.

Waitr Holdings provides restaurant platform for online food ordering and delivery services across the United States. It partners with independent local restaurants and regional and national chains in small and mid-size markets. The company provides an online platform for consumers to order food from restaurant partners for pick-up and delivery through a network of drivers.

Waitr Holdings shares were trading down 15.01% at $4.76 time of publication on Thursday. The stock has a 52-week high of $5.85 and a 52-week low of 21 cents.