NEW YORK (TheStreet) -- Shares of Zulily Inc. (ZU) are down by 16.63% to $29.98 in mid-morning trading on Wednesday, despite the company's report its 2014 third quarter earnings results improved year-over-year, topping analysts' expectations.
The e-commerce company said non-GAAP net income for the latest quarter was $2.90 million, or 2 cents per diluted share, compared to $0.05 million, or breakeven per share, for the 2013 third quarter.
Zulily reported a narrow net loss for the 2014 third quarter of $0.80 million, or a loss of 1 cent per share, compared to a loss of $4.82 million, or a loss of 9 cents per share for the year ago period.
Analysts polled by Thomson Reuters forecast a loss of 3 cents per share for the quarter.
Revenue for the latest quarter grew by 72% to $285.8 million, from $166.6 million for last year's third quarter.
Analysts expected revenue of $285.28 million for the quarter.