Wayfair (W) Stock Rising on Earnings Beat
NEW YORK (TheStreet) -- Wayfair (W) - Get Report stock is rising by 4.74% to $41.30 in mid-morning trading on Wednesday, after the company's 2015 third quarter earnings results beat expectations.
Before the market open on Tuesday, the Boston-based e-commerce company reported a loss of 13 cents per share.
Revenue increased by 76.7% year over year to $594 million.
Analysts were expecting the company to report a loss of 24 cents per share on revenue of $523.39 million for the most recent quarter.
The number of active customers in Wayfair's direct retail business increased by 60.6% year over year to 4.6 million at the end of September, the company noted.
"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," CEO Niraj Shah said in a statement. "We are well positioned to enter the holiday season with key improvements across assortment, merchandising and marketing - and look forward to further building our leadership position as the number one destination for home furnishings and décor."
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