Wayfair's losses narrow by more than $100 million after layoffs, even as sales dip [CNBC]
Wayfair Inc. Class A (W)
Last wayfair inc. class a earnings: 2/28 07:00 am
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Source: CNBC
Wayfair beat Wall Street's expectations on the top and bottom lines and saw active customers grow nearly 3% compared to the year-ago period. Here's how Wayfair did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG: Loss per share: 32 cents adjusted vs. a loss of 44 cents expected Revenue: $2.73 billion vs. $2.64 billion expected The company's reported net loss for the three-month period that ended March 31 was $248 million, or $2.06 per share, compared with a loss of $355 million, or $3.22 per share, a year earlier. Excluding one-time items, the company lost 32 cents per share. Sales dropped to $2.73 billion, down more than 1% from $2.77 billion a year earlier. The steepest drop off came from Wayfair's international segment, where sales fell nearly 6% to $338 million compared to the year-ago period. Despite the sales drop, CEO and co-founder Niraj Shah struck a positive note in a news release, saying the quarter “ended on an upswing.”
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Earnings
- 5/2/24 - Beat
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Sec Filings
- 5/15/24 - Form 8-K
- 5/13/24 - Form 144
- 5/13/24 - Form 144
- W's page on the SEC website