NEW YORK (TheStreet) -- Shares of Zulily (ZU) are exploding on Tuesday after the company reported better-than-expected fourth-quarter results in its first reporting quarter since going public in November last year.
By midmorning, the stock had soared 43.9% to $61.63. Trading volume of 2.8 million was more than six times its three-month daily average.
In the three months to December, the online retailer saw net sales jump to $257 million, 100% higher than a year earlier. Active customers grew to 3.2 million by the end of 2013.
Excluding one-time charges, net income climbed to 10 cents a share from 3 cents a share in the year-ago quarter.
Analysts surveyed by Yahoo! Finance expected net income of 4 cents a share.
For the March-ending quarter, management anticipates net sales between $225 million and $235 million and a net loss of $5 million to $1 million.
Over fiscal 2014, the company expects full-year revenue between $1.1 billion and $1.15 billion, a 58% to 65% increase on fiscal 2013, respectively.