Wayfair Inc. (NYSE: W) shares plunged 11.1% on Wednesday following the online home furnishings retailer's fourth-quarter earnings report, despite beating analyst expectations. The company reported adjusted earnings per share of $0.85, exceeding the consensus estimate of $0.68.
Revenue of $3.3 billion matched Wall Street forecasts. However, investors reacted negatively to the company's overall performance and its future outlook, sending the stock sharply lower. Wayfair highlighted a 7.8% year-over-year increase in total net revenue excluding its exit from the German market, but the negative market reaction overshadowed these positive metrics. Net loss narrowed to $116 million, down from $128 million a year prior, though the company still reported a loss. Active customer count fell slightly, but average order value rose to $301, and revenue per active customer increased 5.6%.
Source: Investing.com News · Summarized by HeadlinesBriefing