Wayfair (NYSE: W) reported Q2 EPS of ($0.26), $0.20 better than the analyst estimate of ($0.46). Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.06 billion.

• Direct Retail net revenue, consisting of sales generated primarily through Wayfair’s sites, increased $346.8 million to $1.1 billion, up 45.9% year over year
• Total net revenue increased $335.9 million to $1.1 billion, up 42.7% year over year
• Gross profit was $269.5 million or 24.0% of total net revenue
• GAAP net loss was $38.9 million
• Adjusted EBITDA was $(2.2) million or (0.2)% of total net revenue
• GAAP basic and diluted net loss per share was $0.45
• Non-GAAP diluted net loss per share was $0.26
• Non-GAAP free cash flow was $(27.2) million
• At the end of the second quarter, cash, cash equivalents, and short-term and long-term investments totaled $282.7 million

"We are pleased to report yet another exceptional quarter with strong momentum in revenue growth and profitability,\" said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. "As consumers increasingly embrace the selection and convenience of shopping online instead of in physical brick and mortar stores, we are taking advantage of that shift and capturing market share by offering a truly differentiated, customer-centric shopping experience. From our new Search with Photo feature that allows customers to quickly find exactly the right item in a matter of seconds to our pioneering work in augmented reality technology making it possible for shoppers to see items in their home at scale before they make a purchase, we are reinventing retail and raising the bar on customer experience each and every day. Our Castlegate and Wayfair Delivery Network initiatives are enabling us to delight customers with faster delivery speeds and a seamless shopping experience from start to finish, and we are continuously expanding our product offering across multiple categories including plumbing, flooring, door and cabinet hardware, mattresses, seasonal décor and housewares. All of these developments are resonating strongly with customers, and we are excited to see strong traction for the Wayfair brand and shopping experience across the United States and our international markets in Canada, the United Kingdom and Germany. We look forward to entering the second half of the year with tremendous momentum."

For earnings history and earnings-related data on Wayfair (W) click here.