21.55
price down icon5.74%   -1.43
 
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Why is Rent the Runway Inc (RENT) Stock down?

We've noticed a 5.53% decline in Rent the Runway Inc (RENT) stock during the 2024-06-14 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
06 Dec, 2023:

Shares of Rent the Runway Inc (RENT) dropped by 5.92% from $0.6677 to $0.6282 in the trading on Wednesday, December 6, 2023. The reason why RENT is down today is due to the company's Q3 2023 earnings report.

  • Earnings Miss and Revenue Shortfall: Rent the Runway's Q3 2023 results did not meet the expectations of Wall Street analysts. The reported revenue of $72.5 million fell short of the Zacks Consensus Estimate of $73.16 million, representing a surprise of -0.90%. Additionally, the company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being -$0.42.
  • Key Metrics Analysis: Investors closely monitor key metrics like active subscribers, revenue from other sources, and subscription and reserve rental revenue to gauge a company's underlying performance. In the reported quarter, Rent the Runway had 131,725 active subscribers at the end of the period, which closely aligned with the estimated figure of 131,018 based on three analysts. However, revenue from other sources was $7.80 million, falling short of the estimated $9.19 million from four analysts. Subscription and reserve rental revenue reached $64.70 million, slightly exceeding the estimated $64 million from four analysts.
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