Wayfair Earnings: W Stock Ticks Higher on Q2 Beats

Wayfair (NYSE:W) reported earnings for the second quarter of fiscal year 2020, and the numbers have W stock up on Wednesday. This comes after the company reported revenue of $4.3 billion, which was above Wall Street’s estimate of $4.06 billion. Also, the company reported adjusted earnings per share (EPS) of $3.13 for the quarter, which crushed analysts’ consensus estimate of $1.04.

Wayfair (W) sign on Wayfair office in Las Vegas, Nevada.

Source: Jonathan Weiss / Shutterstock.com

Additionally, the company reported GAAP EPS of $2.54 for the period.

The following are other noteworthy aspects of the most recent Wayfair earnings report:

  • Adjusted EPS is a significant, positive change from losses per share of $1.35 during Q2 2019.
  • Revenue for the quarter was 83.8% better compared to $2.34 billion during the same time last year.
  • Wayfair’s earnings also included a net income of $273.88 million.
  • That is way better than the net loss of $181.94 million from the second quarter of 2019.

Niraj Shah, co-founder, co-chairman and CEO of Wayfair, said this about the W stock earnings report:

“The second quarter was a very strong period for Wayfair. Our strategic long term investments positioned us well to serve our customers and to quickly adapt during a challenging time. We experienced unprecedented demand in Q2 and saw record numbers of new and repeat customers choose Wayfair. … Our financial performance in Q2 also highlighted the inherent structural profitability of the business, as we begin to pair our strong growth characteristics with consistent profit delivery while continuing to make investments with a long-term orientation.”

The company also did not include any sort of FY2020 guidance. That said, we know what Wall Street is looking for. Analysts are calling for losses per share of $3.44 on revenue of $12.91 billion for the year.

W stock was up less than 1% on Wednesday.

Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/08/wayfair-earnings-w-stock-ticks-higher-on-q2-beats/.

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