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Wayfair posted second-quarter total net revenue of $3.2 billion.
Gabby Jones/Bloomberg
Wayfair
stock was making strides in premarket trading after the online furniture retailer flew past estimates for its second quarter.
Wayfair (ticker: W) posted adjusted earnings of 21 cents a share, while Wall Street had forecast a loss of 73 cents. Total net revenue of $3.2 billion also beat consensus—and, while active customers for the period fell year over year, net revenue per active customer jumped.
“Last year, we laid out a plan to strengthen our business that included a path to sustainable and growing profitability with several key milestones,” wrote CEO Niraj Shah in the earnings release. “For the past few quarters, you’ve seen us execute against that plan—to lower our costs, focus on the basics and earn more customer and supplier loyalty.”
And it’s working. For its second quarter, the company reported adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $128 million and positive free cash flow, Shah continued.
Shares of Wayfair were rising 11% in premarket trading. Coming into Thursday’s trading session, the stock price has more than doubled this year.
Write to Emily Dattilo at emily.dattilo@dowjones.com