Wayfair earnings for the fourth quarter of 2018 have W stock flying high on Friday.
Wayfair (NYSE:W) reported loss per share of $1.12 for the fourth quarter of the year. This is worse off than the company’s losses per share of 58 cents from the same period of the year prior. However, it was a boon to W stock by coming in above Wall Street’s losses per share estimate of $1.28 for the quarter.
The Wayfair earnings report for the fourth quarter of 2018 also includes a net loss of $143.85 million. This is a wider net loss than the $72.96 million that was reported during the fourth quarter of 2017.
Operating loss reported in the Wayfair earnings release for the fourth quarter of the year was $129.61 million. The e-commerce company’s operating loss reported in the same time last year was $67.74 million.
The most recent Wayfair earnings report also sees the company announcing revenue of $2.01 billion. This is better than the company’s revenue of $1.44 billion reported in the fourth quarter of the previous year. It was also great news for W stock by beating out analysts’ revenue estimate of $1.97 billion for the period.
“We are pleased to report another year of significant growth with total net revenue up $2.1 billion to $6.8 billion in 2018, and a record fourth quarter, which represented the largest year over year dollar growth in a single quarter in our history,” Niraj Shah, CEO of Wayfair, said in a statement.
W stock was up 30% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
