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Wayfair Trades Higher On Q2 Sales Beat

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Wayfair (NYSE: W) reported second-quarter losses of $1.35 per share, which met the analyst consensus estimate.

The company reported quarterly sales of $2.343 billion, which beat the analyst consensus estimate of $2.26 billion by 3.67%. This is a 41.57% increase over sales of $1.65 billion the same period last year.

"We are very pleased to report another strong quarter with Direct Retail net revenue up $691 million, an increase of 42% year over year," said Niraj Shah, CEO of Wayfair. "In addition to a successful second annual Way Day, we are seeing our investments across the business drive greater and greater value to our suppliers and customers.”

Wayfair shares were trading up 6.6% at $139.88 in Thursday’s pre-market session. The stock has a 52-week high of $173.72 and a 52-week low of $76.60.

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Posted-In: Earnings News

 

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