Overstock.com Loss Widens

TSC Staff

07/22/04 - 07:13 PM EDT

Online closeout retailer Overstock(OSTK Quote - Cramer on OSTK - Stock Picks) on Thursday reported a net loss of $2.3 million, or 13 cents per share, in its second quarter ended June 30.

That's a penny less than analysts were expecting the Salt Lake City-based company to lose, but almost double the $1.1 million, or 7 cents a share, it lost in the year-ago period.

Second-quarter revenue rose to $87.8 million from $28.8 million, widely surpassing the $77.5 million analysts were expecting.

Shares of Overstock closed up $2.05, or 6.5%, to $33.62; after hours, shares were recently up $1.83, or 5.4% to $35.45.