Wayfair's stock surges after online retailer reports narrower loss than expected Wayfair's stock surges after online retailer reports narrower loss than expected
This post was originally published on this site Shares of Wayfair Inc. W, +28.15% shot up 5.1% in premarket trade Friday, after the online... Wayfair's stock surges after online retailer reports narrower loss than expected
This post was originally published on this site

Shares of Wayfair Inc. W, +28.15% shot up 5.1% in premarket trade Friday, after the online home furnishings seller reported fourth-quarter losses that were narrower than expected and revenue that beat forecasts. The net loss widened to $143.8 million, or $1.59 a share, from $72.8 million, or 83 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted loss per share was $1.12, compared with the FactSet consensus of a $1.28 loss per share. Revenue rose to $2.01 billion from $1.44 billion, above the FactSet consensus of $1.97 billion, as direct retail revenue grew 41% to $2.00 billion to top expectations of $1.95 billion. The number of active direct retail customers increased 38% to 15.2 million and orders per customer increased to 1.85 from 1.77, while the average order value declined to $227 from $229, but matched the FactSet consensus. The stock has rallied 7.5% year to date, while the S&P 500 SPX, +0.40% has climbed 10.7%.

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