Wayfair Inc. (NYSE: W)
Shares of Wayfair Inc. rose $8.23, or 7.68% on Thursday after the company reported an increase in revenue during the second quarter, which also topped Wall Street estimates.
However, the online home retailer posted a wider-than-expected loss during the three months to June 30, 2018.
The company missed the consensus earnings per share estimate by $0.04 but that did not prevent its shares from climbing to $115.46 in the final hours of regular trading.
Wayfair shares have increased 34% since the year begun, and gained nearly 42% in the last twelve months.
W Earnings & Outlook
Wayfair reported an adjusted loss of $0.77 per share missing the consensus estimate of $0.73 adjusted loss per share.
The company had an adjusted loss of $0.26 in the year-ago period. Wayfair has not surpassed analyst earnings per share estimate over the last four quarters.
Analysts expect it to post earnings of -$0.79 for the current quarter, and -$3.02 per share for the full year.
During the second quarter, revenue was $1.66 billion topping Wall Street estimate of $1.60 billion. In the same period last year, the company posted a revenue $1.12 billion. Wayfair has surpassed analyst revenue estimates three times over the last four quarters.
Analyst estimate revenues of $1.65 billion for the current quarter, and $6.55 billion for the full year.
Wayfair CEO Comments
“We are pleased to report a record second quarter and our largest yet year-over-year dollar growth in Direct Retail net revenue. This recent quarter included our biggest revenue day in the history of the company as we introduced Way Day, the first-ever retail holiday for home,” said Wayfair Chairman and Chief Executive Niraj Shah.
“Our long-term investments in further developing our logistics networks, international business, and in scaling headcount to improve our product and service offerings are resonating strongly with new and returning customers. By focusing on bringing customers the best possible experience in shopping for the home, from the home, we are leading the way in our category. We are delighted with the progress that we are making and the way in which we are positioned to keep taking market share as dollars shift online,” Mr. Shah concluded.
Wayfair, Inc. Company Profile
Wayfair, Inc. is an online store retailer that various home goods for living room, bedroom, kitchen and dining, as well as bathroom and home entertainment.
It offers browsing, merchandising and product discovery for various products from a range of suppliers. The firm operates through two segments; the International segment and the U.S. segment.
Wayfair offers its customers several products for the home sector from numerous brands. It provides a range of decor, housewares, furniture, decorative accent, seasonal decor, and other home products through its sites, such as Birch Lane, Wayfair, DwellStudio, Joss & Main and AllModern.
Its competes with Euromarket Designs, Inc., Amazon.com, Inc. and Williams-Sonoma, Inc. Wayfair was founded in 2002 by Niraj S. Shah and Steven K. Conine. Its headquarters are based in Boston. –Reuters