Sign up USA
Proactive Investors - Run By Investors For Investors

Wayfair shares plunge over 19% as loss widens

Net revenues though did rise - up 39% from last year to US$1.2bn, the firm revealed
Wayfair shares plunge over 19% as loss widens
The loss per share for the three months was 88 cents a share, versus a 72 cent loss a year ago

Wayfair Inc (NYSE:W), the American furniture e-commerce firm, saw shares plunge over 15% on Thursday as it posted a wider than expected third quarter loss.

Net revenues though did rise - up 39% from last year to US$1.2bn,  which was just below analysts’ estimates of US$1.21bn.

The loss per share for the three months was 88 cents a share, versus  a 72 cent loss a year ago.

Consensus analyst estimates was for a loss of 68 cents a share.

“We are very pleased with the company’s strong growth and momentum as we continue to reinforce our position as a clear online leader in the massive home category,” said Niraj Shah, the chief executive,  co-founder and co-chairman of Wayfair.

"With $1.2 billion in year over year Direct Retail revenue growth during the twelve months ending September 30, we are already quickly outpacing the shift of dollars online in our category and taking a high proportion of market share as customers embrace our exceptional shopping experience."

Shares are at  US$62.84 each. 

View full W profile View Profile

Related Articles

May 17 2017
In 2016, Pioneering's market capitalization increased by 1,170% and its share price appreciated by 725%.
Empty meeting room
February 08 2018
The company's eponymous flagship product is not the only remote meetings enabler out there, but judging by the company's rapid growth, it is one of the best
June 18 2017
Brendan Martin talked underwater drone technology and commercialisation.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use