Wayfair Beats Q3 Estimates, But Lowers Guidance

Shares of Wayfair (W) - Get Report were lower on Tuesday after the online home goods retailer issued downbeat revenue guidance for the fourth quarter. The company now expects fourth-quarter revenue between $920 million and $960 million, which is below analysts' expectations of $1 billion. Wayfair also expects direct retail revenue to range between $890 million and $925 million. As for the third-quarter, Wayfair reported better-than-expected results. The company posted a loss of $0.54 a share, which was smaller than Wall Street's forecast for a loss of $0.59 a share. Revenue rose 45% to $861.53 million year-over-year, that also surpassed analysts' estimates.

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