Why Wayfair Stock Is Soaring Today
Shares of online home-goods retailer Wayfair (NYSE: W) are soaring today, up about 26% as of 11:30 a.m. EDT, after the company reported first-quarter results that were better than Wall Street had expected.
Wayfair's net loss increased to $289.9 million from $200.4 million in the year-ago period, but it gave consumer-discretionary investors some good reasons to cheer.
On an adjusted basis, excluding one-time items and stock-based compensation, Wayfair lost $2.30 per share. Revenue totaled $2.33 billion, up 20.1% from a year ago. That was a double beat: Wall Street analysts polled by FactSet had expected an adjusted loss of $2.60 per share on revenue of $2.31 billion.
Source Fool.com
