Overstock.com Narrows Loss

Revenue jumps 79% as the company beats estimates.
Publish date:

Updated from Oct. 21

Shares of


(OSTK) - Get Report

soared Friday after the company announced Thursday that it narrowed its third-quarter loss, besting analysts' estimates.

The stock was recently up $8.01, or 17.1%, to $54.84.

The online liquidator and retailer lost $3 million, or 16 cents a share, in the just-completed quarter. In its year-ago period, the company lost $3.7 million, or 23 cents a share.

Overstock's revenue jumped 79% to $103.4 million.

On average, Wall Street expected Overstock to post a loss of 20 cents a share for its just-completed quarter on $102 million in sales, according to Thomson First Call.

The company did not immediately provide a fourth-quarter forecast, but analysts have predicted the company would earn 6 cents a share, excluding expenses, in the holiday quarter on $207.7 million in sales. Last year, the company lost $3.1 million, or 19 cents a share, on $123.2 million in sales.

Overstock's report came after the bell on Thursday. In after-hours exchanges, the company's shares rose 37 cents, or 0.8%, to $47.20. Earlier in the day, shares closed regular trading up $2.81, or 6.4%, to $46.83.