Wayfair (W) Stock Gains on Quarterly Financial Results
NEW YORK (TheStreet) -- Wayfair (W) - Get Report stock is rising 1.36% to $46.20 in early morning trading on Tuesday after the company reported better than expected financial results for the 2015 third quarter.
The company posted a loss of 13 cents per share for the quarter ended September 30, beating estimates of a loss of 24 cents.
Revenue increased 76.7% year-over-year to $593.97 million for the quarter, exceeding estimates of $523.39 million.
"We are very pleased to report the third quarter in a row of tremendous growth across the business," CEO Niraj Shah said in a statement. "New customer growth and repeat customer growth continue to accelerate at a phenomenal pace as we enhance our offering and build greater brand awareness with consumers."
The number of orders delivered increased 76.8% to 2.3 million during the quarter as the number of active customers in the direct retail business reached 4.6 million as of September 30.
The Boston-based company sells home furnishing and decor through several websites.
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