Wayfair Inc (NYSE:W) shares surged about 28% to around $114 on Tuesday after the online home furnishings retailer reported second-quarter results that topped Wall Street expectations, with revenue growth accelerating in the US.
Wayfair reported adjusted earnings per share of $0.95 for the second quarter, ahead of the analyst consensus estimate of $0.87
Net revenue reached $3.52 billion, compared with the $3.45 billion expected by analysts. Total net revenue increased 7.5% year over year to $3.5 billion, with US revenue rising 8.7% to $3.1 billion. International revenue declined 1.3% to $394 million, while constant-currency international revenue fell 2%.
Gross profit was $1.05 billion, representing 30% of net revenue. Non-GAAP contribution profit was $539 million, or 15.3% of revenue, while adjusted EBITDA was $242 million. Wayfair reported a net loss of $1 million, compared with adjusted diluted earnings per share of $0.95.