Why Wayfair Stock Jumped Today
Shares of Wayfair (NYSE: W) have jumped today, up by 8% as of 1:10 p.m. EST, after the company announced third-quarter financial results this morning. The stock was up as much as 18% in pre-market trading.
Revenue in the third quarter soared 67% to $3.8 billion, ahead of the consensus estimate of $3.66 billion in sales. That resulted in adjusted earnings per share of $2.30, which blew away Wall Street's expectation of $0.80 per share in adjusted profits. The e-commerce technology company, which specializes in home furnishings, now has 28.8 million active customers and the average order value was $243 in the third quarter.
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Source Fool.com
