Wayfair Jumps 20% On Better Quarterly Results, Above View

(RTTNews) - Shares of e-commerce company Wayfair Inc. (W) are surging more than 20% Thursday morning after reporting improved second-quarter results, above analysts' view.

The company reported a net loss of $46 million or $0.41 per share for the quarter, narrower than 378 million or $3.59 per share in the same quarter a year ago.

Excluding one-time items, Wayfair reported earnings of $0.21 per share for the quarter. Analysts on average polled by Thomson-Reuters were expecting a loss of $0.74 per share for the quarter. Total net revenue was $3.171 billion, down 3.4% year over year. The consensus estimate was for $3.1 billion.

Wayfair shares, currently at $87.64, has traded in the range of $28.11 - $86.67 in the last 1 year.