Internet pet retailer Chewy, Inc. (CHWY 0.06%) reported its second-quarter results today after market close, beating analyst consensus predictions on both its revenues and earnings per share (EPS). Unlike many other companies operating during the ongoing COVID-19 pandemic, Chewy also provided an update to its previous guidance on the earnings conference call for both Q3 2020 and fiscal 2020, as a whole.

According to analyst consensus figures published by Seeking Alpha, Wall Street expected $1.64 billion in Q2 net sales. Actual net sales of $1.70 billion delivered a slender positive surprise of approximately 3.7%, though revenue jumped strongly year over year by 47%. In terms of GAAP EPS, analysts forecast a $0.17 loss per share, $0.09 greater than the actual loss per share of $0.08.

Various pet supplies, including a bowl filled with dry food, a brush, and a leash.

Image source: Getty Images.

During the follow-up conference call, Chewy executives said their outlook for Q3 anticipates 38% to 40% higher sales than during Q3 2019, amounting to $1.70 billion to $1.72 billion. The company also raised its full-year guidance for fiscal 2020, replacing its earlier sales prognosis of $6.55 billion to $6.65 billion with a higher estimate of $6.775 billion to $6.825 billion.

Other positive metrics included improved gross and net margin (rising by 190 basis points and 530 basis points, respectively), and an increase to 16.6 million active customers, or a 38% year-over-year jump. 

Chewy's shares rose 17% last month as e-commerce continued to mushroom during the coronavirus era. However, the latest report appeared to leave investors unimpressed, perhaps because sales per active customer slumped from $365 to $356, according to CNBC, a roughly 2.5% decline.