Why Wayfair Shares Are Trading Higher Today

Wayfair Inc W shares are trading higher Thursday morning after the company announced better-than-expected second-quarter earnings results.

Active customers reached 31.1 million in the second quarter, which represents an increase of 19.6% year over year.

Wayfair reported quarterly earnings of $1.89 per share, which beat the estimate of $1.17 per share. The company reported quarterly revenue of $3.86 billion, which came in below the estimate of $3.96 billion.

"While the current macro environment is dynamic, the home remains a high priority for our customers and longer term tailwinds to online category growth are firmly in place,” said Niraj Shah, co-founder and CEO of Wayfair.

Price Action: Wayfair has traded as high as $369 and as low as $221.09 over a 52-week period.

At last check Thursday, the stock was up 11% at $278.74.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsMoversTrading IdeasNiraj Shahwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!