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Wayfair rallies 12% on better-than-feared results; expects to be EBITDA positive in Q2

AuthorSenad Karaahmetovic
Published 05/04/2023, 07:31 AM
Updated 05/04/2023, 07:36 AM
© Reuters. Wayfair (W) rallies 12% on better-than-feared results; Expects to be Ebitda positive in Q2
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Wayfair (NYSE:W) shares traded over 10% higher in premarket Thursday after the company delivered a “strong” set of results.

Wayfair reported a loss per share of $1.13 to beat the analyst consensus for a loss per share of $1.71. Revenue fell 7.3% year-over-year to $2.77 billion, still above the $2.73B expected.

The number of active customers fell 12% YoY to $22 million while delivered orders topped 10M.

"This was a strong quarter for Wayfair, and we are pleased to be seeing consistent market share gains and a significant improvement in cost structure versus last quarter that gets us to nearly Adjusted EBITDA breakeven in Q1. Most exciting is that we expect to have positive Adjusted EBITDA in the second quarter,” said Niraj Shah CEO, co-founder and co-chairman, Wayfair.

For Q1, Wayfair reported an adjusted EBITDA loss of $14M.

 

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