Overstock.com (OSTK) Tops Q2 EPS by 92c, Revenue Beats

Overstock.com (NASDAQ: OSTK) reported Q2 EPS of $0.84, $0.92 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $783 million versus the consensus estimate of $597.6 million.

"In a rapidly shifting and challenging environment, Overstock continues to perform exceptionally well," said Overstock CEO Jonathan Johnson. "Second quarter gross sales in our Overstock Retail business more than doubled year over year. The number of new customers more than tripled year over year. Importantly, our customers are buying our core products—home furnishings—from the safety of their homes as part of the country's new normal. If business continues as I expect, our Overstock Retail business will achieve sustainable, profitable growth this year."

"tZERO and our other Medici Ventures blockchain-based businesses continue to make progress, with several of those companies attracting media attention for their solutions to problems the country now faces," continued Johnson. "As an organization, Overstock remains focused, disciplined, and resilient as our employees execute against our strategic initiatives. I am proud of the progress we have made, and I am confident that we can continue along this profitable trajectory. I look forward to providing a full update on our progress and performance during our earnings call."

For earnings history and earnings-related data on Overstock.com (OSTK) click here.

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