Blue Apron Holdings Inc. APRN, -5.33% shares jumped 2.1% in Wednesday after-hours trading after it reported fourth-quarter revenue that beat expectations.The meal kit delivery service reported a net loss of $23.7 million, or 12 cents per share, after a loss of $39.1 million, or 20 cents per share, last year. Revenue totaled $140.7 million, down from $187.7 million last year. The company said the decline was due to "deliberately reduced marketing spend" and and investment in "consumers who have high potential to be valuable to the business." The FactSet consensus was for a loss of 17 cents per share and sales of $138.0 million. Average revenue per customer rose to $248 from $233 last year. And the number of customers was up to 756,000 from 646,000. Blue Apron shares have sunk 53.4% over the last year while the S&P 500 index SPX, +1.55% is down 5% for the period.
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