Zulily (ZU) Stock Falling Today Despite Earnings Beat

Zulily (ZU) reported 2014 third quarter earnings results that improved from the previous year, however the stock is falling this morning.

Author:
Amanda Schiavo
Publish date:
Nov 5, 2014 10:47 AM EST

Zulily (ZU) reported 2014 third quarter earnings results that improved from the previous year, however the stock is falling this morning.

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.

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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.

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