Wayfair soars 10% on stronger-than-expected Q3 print

Investing.com -- Wayfair shares soared more than 10% in premarket trading on Tuesday after the online furniture retailer reported third-quarter results that beat average analyst expectations.

The company reported earnings per share (EPS) of $0.70 per share, ahead of analysts’ expectations of $0.44. Revenue rose to $3.1 billion, slightly above the $3.01 billion consensus.

U.S. net revenue reached $2.7 billion, an increase of $216 million, or 8.6% from a year earlier. International net revenue climbed 4.6% to $389 million, with constant-currency growth of 3.5%.

The company posted non-GAAP adjusted EBITDA of $208 million for the quarter.

"The third quarter was a great success - share gain further accelerated, with revenue growing 9% year-over-year excluding Germany. We saw orders delivered grow by over 5% year-over-year in the quarter, including new orders now growing mid-single digits for two quarters in a row," said Niraj Shah, CEO, co-founder and co-chairman of Wayfair.

"This came in tandem with more than 70% year-over-year growth in Adjusted EBITDA. Our 6.7% Adjusted EBITDA margin marks the highest level achieved in Wayfair’s history outside of the pandemic period."

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