Wayfair: 2Q Earnings Snapshot
Posted August 5, 2020 7:43 am.
Last Updated August 5, 2020 7:54 am.
This article is more than 5 years old.
BOSTON (AP) _ Wayfair Inc. (W) on Wednesday reported second-quarter net income of $273.9 million, after reporting a loss in the same period a year earlier.
The Boston-based company said it had profit of $2.54 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $3.13 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The online home goods retailer posted revenue of $4.3 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $4.07 billion.
Wayfair shares have more than tripled since the beginning of the year. The stock has more than doubled in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on W at https://www.zacks.com/ap/W
The Associated Press
