Why Wayfair Stock Jumped This Morning
Shares of Wayfair (NYSE: W) jumped as much as 16% this morning after the company reported fourth-quarter earnings. The resulted were mixed compared to expectations, but investors were impressed with Wayfair's outlook. As of 12:30 p.m. EST, the stock was up 3%.
Revenue in the fourth quarter increased 45% to $3.67 billion, missing the consensus estimate of $3.77 billion. That resulted in adjusted earnings per share of $1.24, which beat Wall Street's forecast of $0.91 per share in adjusted profits. The e-commerce company, which specializes in furniture, said active customers reached 31.2 million, and average orders per customer increased to 1.96. Repeat customers represented 73% of total orders.
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Source Fool.com
