04:51 PM EDT, 06/06/2024 (MT Newswires) -- Rent the Runway ( RENT ) Thursday night reported a fiscal Q1 net loss of $6.03 per diluted share compared with a $9.14 loss a year earlier.

Two analysts polled by Capital IQ expected a loss of $7.44.

Net revenue for the quarter ended April 30 was $75 million, up from $74.2 million a year earlier.

Three analysts expected $73.7 million.

For Q2, the apparel rentals company is projecting revenue of $76 million to $78 million.

Three analysts polled by Capital IQ are looking for $75.6 million.

For fiscal 2024, the company is projecting revenue growth in a range of 1% to 6%. The analysts are looking for $307.6 million in revenue this year.

Rent the Runway ( RENT ) shares were almost 3% higher in extended activity.

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