From Investing.com: 2024-05-02 09:50:01

Wayfair’s shares surged 14% after beating analyst estimates in Q1 fiscal 2024. The company reported a loss per share of $0.32, better than the expected $0.33, with revenue reaching $2.7 billion compared to the estimated $2.64 billion. Despite a loss last year, adjusted EBITDA for the quarter was $75 million, surpassing the $73.8 million estimate. Gross margin increased to 30% from 29.6%, with 10 million orders delivered, exceeding the estimated 9.64 million. CEO Niraj Shah highlighted positive customer growth, with analysts noting better revenue amidst a challenging industry backdrop.



Read more at Investing.com: Wayfair stock pops as Q1 profitability, revenue surpass analyst estimates By Investing.com