Wedding content publisher The Knot, which runs TheKnot.com, said Wednesday its second-quarter profit increased 23% due to stronger sales in wedding supplies and higher advertising revenue.
The company said quarterly income for the three-month period rose to $4.8 million, or 15 cents per share, from $3.9 million, or 15 cents per share in the year-ago period. Earnings per share remained the same year-over-year due to a 27.1% increase in the number of diluted shares outstanding.
Sales rose to $28.5 million, from $17.7 million, a year earlier.
The company noted that sales of wedding supplies rose 35%, and advertising revenue increased 50%.
The results came in above Wall Street forecasts, sparking a rally in the stock in after-hours trading. Shares of The Knot closed Wednesday up almost 8%.
Shares have traded in a range of $15.30 and $32.18 over a 52-week period.