Online Auction Operator Has Plenty Of Momentum

Liquidity Services operates online auction market places for surplus and salvage consumer goods. It was founded in 1999, operates in the United States and Europe and has a market cap of $890 million. LQDT has been strong in the weak market, helped by strong second quarter results from early August that came in well ahead of expectations. Revenue for the period was up 18% from last year to $86 million. Earnings also came in strong at 42 cents, more than double the Zacks Consensus Estimate, lifting the company’s average earnings surprise to 014% over the last four quarters. LQDT noted that it continues to benefit from consumers and corporations looking to cut costs in the weak economy by buying and selling used goods.

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