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Cricut Stock Soars 12.43% on Share Buyback, Earnings Beat
Generated by AI AgentAinvest Movers Radar
Wednesday, May 7, 2025 6:14 am ET1min read
Cricut's stock surged 12.43% in pre-market trading on May 7, 2025, driven by a series of strategic moves and financial updates from the company.
Cricut, Inc. recently announced a $50 million share repurchase program, which includes an unused portion from prior approvals. This move is part of the company's efforts to enhance shareholder value and optimize its capital structure.
In its first quarter 2025 financial results,
reported a 3% dip in revenue, while profits saw a notable increase. The company's earnings per share (EPS) for the quarter was 11 cents, surpassing the consensus estimate of 7 cents. This positive earnings surprise contributed to the stock's upward momentum.Despite facing challenges such as tariffs, Cricut outlined growth strategies for the second quarter, focusing on increasing platform revenue through paid subscriber growth. However, product revenue declined by 7%, primarily due to a 15% decrease in certain product categories.
Overall, Cricut's strategic initiatives, including the share repurchase program and positive earnings report, have bolstered investor confidence, leading to the significant pre-market gain.
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