RTTNews | Jun 8, 2021 09:57AM EDT

09:57 Tuesday, June 8, 2021 (RTTNews.com) - Shares of Stitch Fix Inc. (SFIX) are soaring over 11% Tuesday morning, after the company reported upbeat results for the third quarter. The stock, which has been trading in the range of $21.60 - $113.76 for the past one year, is currently trading at $64.82, up $6.88 or 11.88%, with trading volume of over 2.75 million versus an average volume of 2.29 million shares.

The company's Q3 net loss was $18.8 million or $0.18 per share compared to a loss of $34.7 million or $0.33 per share last year. Wall Street analysts expected a loss of $0.27 per share for the quarter.

Net revenue for the quarter was $535.6 million versus $371.7 million generated a year ago, an increase of 44%.

For the fourth quarter, the company expects net revenue in the range of $540 million - $550 million, or 21.8% - 24.0% growth. The company now sees fiscal 2021 net revenue of $2.07 billion - $2.08 billion, or 20.9% - 21.5% growth. Analysts estimate revenue of $534.69 million for the fourth quarter, and $2.04 billion for the fiscal year 2021.

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