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