Wayfair Tops Q2 Estimates, Shares Jump

Shares of Wayfair Inc W jumped over 11 percent in pre-market trading after the company reported a narrower-than-expected loss for the second quarter on Wednesday. The Boston, Massachusetts-based company reported a quarterly loss of $19.3 million, or $0.23 per share, versus a year-ago loss of $28 million, or $0.69 per share. Excluding items, the company's loss shrank to $0.15 per share from $0.55 per share. Its revenue climbed 66.4 percent year-over-year to $491.8 million. However, analysts were projecting a loss of $0.29 per share on revenue of $438.49 million. The average estimate among 8 Estimize users was for a loss of $0.28 per share and revenue of $441.55 million. As of June 30, 2015, its active customers in direct retail business surged 53.5 percent to 4 million. Direct retail revenue jumped 80.8 percent to $440.3 million. Orders delivered in the quarter jumped 80.7 percent year-over-year to 2.0 million, while orders per customer rose to 1.67 from 1.62. Gross profit margin expanded to 24.6 percent of total net revenue, from 23.2 percent of total net revenue. "As we continue to deliver a truly differentiated retail experience from start to finish, we are seeing tremendous growth and momentum across the business," noted Niraj Shah, CEO, co-founder and co-chairman of Wayfair. "From new, exclusive brand offerings to our ongoing commitment to attentive and knowledgeable customer service, Wayfair is delivering a shopping experience that exceeds customers' expectations." Wayfair shares jumped 11.34 percent to $42.50 in pre-market trading.