Wayfair Almost Doubles Net Revenue to Nearly $4 Billion
In a sign the retail apocalypse may not be abating yet, online furniture, housewares, and home goods supplier Wayfair Inc. (NYSE: W) registered explosive sales growth year over year in this morning's third-quarter 2020 earnings report. Its $3.8 billion net revenue represents a 66.5% leap above Q3 2019's $2.31 billion in sales and a 4.16% positive surprise above the Wall Street analyst consensus estimate reported by Zacks Equity Research.
Earnings per share (EPS) rocketed even further ahead of analyst predictions. The positive surprise of the company's $2.30 third-quarter 2020 EPS amounted to 183.95%, according to Zacks. Last year, by contrast, Q3 yielded a per-share loss of $2.33. While the metrics remain excellent, earnings per share have declined somewhat from Q2 2020's $3.13.
Image source: Getty Images.
Source Fool.com
