- Blue Apron beat on the top and bottom lines.
- The meal-kit subscription service had 746,000 customers in the fourth quarter, down from 856,000 in the prior quarter.
(Reuters) – Blue Apron Holdings Inc reported a smaller-than-expected revenue drop and quarterly loss on Tuesday after a costly distribution hub switch forced it to slash marketing.
The meal-kit subscription service had 746,000 customers in the fourth quarter through Dec. 31, compared to 856,000 in the prior quarter and 879,000 a year earlier. The marketing pullback came despite mounting competition for customers from meal-kit rivals and Amazon.com Inc.See the rest of the story at Business Insider
NOW WATCH: JIM ROSS: Here’s who will take over WWE after Vince McMahon
See Also:
- Snap, Tesla, and Twitter’s earnings reports illustrate some big problems with those companies
- CVS profits nearly double after savings from the new tax law
- Yum beats on earnings, but misses on same-store sales
