Wayfair (NYSE: W) reported a narrower-than-expected loss in the first quarter, helped by a 38% increase in net revenues to $1.94 billion. Adjusted net loss in Q1 was $1.62 per share, compared to $0.91 per share a year ago.
Analysts were expecting a loss of $2.13 per share on revenues of $1.91 billion.
Direct Retail net revenue, consisting of sales generated primarily through Wayfair’s sites, grew by 39% to $1.9 billion. The number of active customers in Direct Retail business reached 16.4 million as of March 31, 2019, an increase of 39.1% year-over-year.
Repeat customers placed 66.0% of total orders in the first quarter of 2019, compared to 64.3% in the first quarter of 2018
READ: ZYNGA STOCK RISES ON UPBEAT GUIDANCE
Shares of Wayfair ended its last trading session up 0.89% on Wednesday. The stock has soared 81% since the beginning of this year, primarily helped by better-than-expected fourth quarter results.
Wayfair CEO Niraj Shah said, “Once again, Way Day, our biggest retail event of the year, was a tremendous success for the business breaking our record for the highest revenue grossing day in company history.”
The company delivered 38.6% more orders during the quarter at an average order value of $237, a dollar higher than last year.
Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to