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.

Posted In: Niraj Shahwhy it's movingEarningsNewsMoversTrading Ideas