Overstock.com (NASDAQ:OSTK) earnings for the e-commerce company’s fiscal fourth quarter of 2019 have OSTK stock heading higher on Friday. This comes even after reporting diluted losses per share of 73 cents, which misses Wall Street’s estimates of a 34-cent loss. However, its revenue of $370.88 million easily comes in above analysts’ estimates of $356.66 million.
Here’s what else is worth mentioning from the most recent Overstock.com earnings report.
- Overstock’s net loss of $27 million is a $15.3 million improvement year-over-year.
- Revenue for the quarter comes in 18.05% worse compared to $452.55 million in the fiscal fourth quarter of 2018.
- Operating loss of $31.56 million (from a $48.44 million loss last year) is an 18.05% improvement.
Jonathan Johnson, Chief Executive Officer of Overstock.com, said this about the OSTK stock earnings.
“The results of our fourth quarter and fiscal year were in line with our previously revised guidance. Our retail business performed well despite a competitive holiday shopping season, and we continue to make progress toward our goal of realizing sustainable, profitable growth.”
The Overstock.com earnings report doesn’t include an outlook for the fiscal full year of 2020. Despite that, we know what Wall Street expects. That includes adjusted losses per share of $1.17 on revenue of $1.46 billion.
OSTK stock is up 1.24% in after-hours trading Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
