BOSTON - Wayfair Inc . (NYSE:W) shares soared 16% in early trading Wednesday after the online home goods retailer reported better-than-expected third quarter results, beating analyst estimates on both the top and bottom lines.
The company posted adjusted earnings per share of $0.22, surpassing the consensus forecast of $0.13. Revenue came in at $2.9 billion, slightly above Wall Street's expectation of $2.87 billion, though down 2% YoY.
Wayfair's CEO Niraj Shah highlighted the company's resilience, stating, "Q3 marked another proofpoint of resilience for Wayfair with further market share capture in the face of sustained challenges in the category."
The company achieved a mid-single-digit Adjusted EBITDA margin for the second consecutive quarter, demonstrating improved profitability despite ongoing headwinds in the home goods sector. Adjusted EBITDA reached $119 million in Q3, up from $100 million a year ago.
Active customers declined 2.7% YoY to 21.7 million, while average order value increased to $310 from $297 in the prior year period. Orders delivered fell 6.1% to 9.3 million, reflecting the challenging consumer environment.
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