Chewy (NYSE: CHWY) shares plummeted more than 9% after-hours following the company’s reported Q2 results, with revenue coming in at $2.43 billion (up 12.8% year-over-year), worse than the consensus estimate of $2.45 billion.

Net income came in at $22.3 million. Adjusted EBITDA increased by $59.8 million year-over-year to $83.1 million.

“We are proud of our second quarter 2022 performance and ability to deliver double-digit topline growth and margin expansion in a rapidly evolving macro environment,” said Sumit Singh, CEO of Chewy.

By Davit Kirakosyan