Wayfair wins: W stocks cross higher on Q2 strokes

<p>Wayfair (NYSE: W) reported earnings for the second quarter of fiscal year 2020, and the figures have W stocks up on Wednesday. This comes after the company reported sales of $ 4.3 billion, which was above the Wall Street estimate of $ 4.06 billion. The company also reported adjusted earnings per share (EPS) of $ 3.13 for the quarter, which shattered the analyst’s consensus estimate of $ 1.04.

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In addition, the company reported GAAP EPS of $ 2.54 for the period.

The following are other notable aspects of the latest Wayfair results report:

Adjusted earnings per share is a significant, positive change from losses per share of $ 1.35 during the second quarter of 2019. Revenue for the quarter was 83.8% better compared to $ 2.34 billion during the same period last year. Wayfair’s results also included a net income of $ 273.88 million. This is much better than the net loss of $ 181.94 million from the second quarter of 2019.

Niraj Shah, co-founder, co-chairman and CEO of Wayfair, said this about the W share’s earnings report:

“The second quarter was a very strong period for Wayfair. Our strategic long-term investments placed us well to serve our customers and to quickly adapt during a challenging time. We experienced unmatched demand during the second quarter and saw a record number of new and returning customers choose Wayfair. … Our financial development during the second quarter also highlighted the inherent structural profitability of the business as we begin to pair our strong growth characteristics with a consistent profit delivery while continuing to make investments with a long-term focus. ”

The company also did not include any form of FY2020 guidance. That said, we know what Wall Street is looking for. Analysts are calling for $ 3.44 losses per share on revenue of $ 12.91 billion for the year.

The W share rose less than 1% on Wednesday.

Nick Clarkson is the web editor at InvestorPlace. At the time of writing, he had no position in any of the above securities.