Overstock.com (NASDAQ:OSTK) earnings for the online furniture store’s third quarter of 2019 have OSTK stock falling hard on Tuesday. That comes from its diluted per-share loss of -89 cents and revenue of $347.10 million. These are both worse than Wall Street’s estimates of -62 cents per share and $376.20 million.
Now for a more in-depth look at the most recent Overstock.com earnings report.
- Diluted losses per share are 42.58% better than then -$1.55 from the same time last year.
- Revenue comes in 21.22% lower YoY from $440.58 million.
- Gross profit is sitting 19.80% lower at $69.55 million from the $86.72 million reported in Q3 2018.
- Gross margin for the quarter is 20% compared to 19.70% from the same quarter of the previous year.
- Operating loss of -$30.13 million is a 36.99% improvement over -$47.82 million from the third quarter of 2018.
- The Overstock.com earnings report also includes a net loss of -$34.54 million.
- That’s 29.88% narrower than the company’s net loss of -$49.26 million in the same period of the year prior.
Overstock CEO Jonathan Johnson says this about the Q3 OSTK stock earnings report.
“The results of our third quarter were in line with our revised guidance. Our retail business continues its path to sustained profitability, despite a few external headwinds, thanks to the focused leadership of an executive team with a proven track record of success.”
OSTK stock was down 16.03% as of Tuesday afternoon. The stock is also down 33.33% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
