Wayfair Inc (NYSE:W) stock was hit hard on Thursday following the release of its earnings report for the fourth quarter of 2017.
The blow to W stock comes after it reported losses per share of 58 cents for the fourth quarter of the year. This is a wider loss than the losses per share of 34 cents reported in the same period of the year prior. It also came in below Wall Street’s losses per share estimate of 52 cents for the quarter.
Wayfair Inc’s earnings report for the fourth quarter of 2017 includes a net loss of $72.77 million. This is worse than its net loss of $43.96 million that was reported by the furniture and home goods seller in the fourth quarter of 2016.
Wayfair Inc notes that its operating expenses for the fourth quarter of the year was $399.90 million. The company’s operating expenses from the same quarter of the previous year was $282.34 million.
Despite its disappointing profits, Wayfair Inc reported strong revenue of $1.44 billion for the fourth quarter of 2018. This is an increase over its revenue of $984 million from the same time last year. It also comes in above analysts’ revenue estimate of $1.36 billion for the period.
For the full year of 2017, Wayfair Inc reported losses per share of $1.97 on revenue of $4.72 billion. Last year’s losses per share and revenue came in at $1.67 and $3.38 billion. Wall Street was estimating losses per share of $1.92 on revenue of $4.64 billion.
W stock was down 21% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
