Wayfair (NYSE:W) shares jumped over 12% today after the home furnishings retailer posted second-quarter results that handily beat expectations, with revenue and profitability reaching their highest levels since 2021.
The company reported adjusted earnings of $0.87 per share, topping the $0.33 analyst forecast. Revenue increased 5% year-over-year to $3.27 billion, beating the $3.12 billion consensus. Excluding its exit from Germany, revenue grew 6%.
U.S. revenue rose 5.3% to $2.9 billion, while international sales increased 3.1% to $399 million. Gross profit totaled $984 million, or 30.1% of total revenue. Adjusted EBITDA was $205 million, yielding a margin above 6%.
Despite revenue growth, active customers declined 4.5% year-over-year to 21 million. However, revenue per active customer climbed 5.9% to $572, and average order value rose to $328 from $313 a year ago.
