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Wayfair Stock Jumps on Earnings Beat, Rise in Users

Wayfair jumped after the online home-goods retailer reported earnings ahead of analyst estimates and a nearly 20% rise in users.
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Wayfair  (W) - Get Wayfair, Inc. Class A Report shares jumped after the online home-goods retailer reported second-quarter earnings ahead of analyst estimates and a nearly 20% rise in users. 

The Boston company reported second-quarter earnings of $1.89 a share on revenue of $3.86 billion. 

Analysts surveyed by FactSet were expecting earnings of $1.16 a share on revenue of $3.93 billion. 

At last check the stock was 10% higher at $276.25.

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Wayfair reported a nearly 20% increase in users year over year to 31.1 million. 

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The average order in the quarter was $278, compared with $227 in the year-earlier quarter. The company delivered a total of 13.9 million orders, down 27% from a year earlier.

Net revenue per active customer for the past 12 months reached $478 in the quarter, up 8.6%. 

Repeat customers accounted for more than 75% of total orders in the quarter, up from 67.4% in the year ago period. 

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The company's U.S. net revenue fell to $3.1 billion from $3.7 billion a year earlier, as the U.S. economy reopened and consumers returned to brick-and-mortar stores, eating into online sales. 

"Even as we navigate any near-term volatility, we remain most focused on the long-term," Niraj Shah, Wayfair's co-founder, co-chairman and CEO, said in a statement.

"Meaningful adjusted Ebitda and free cash flow in [the second quarter] also reflect strong returns from many years of thoughtful investments behind each facet of our platform model," Shah said.