Wayfair Stock Dives on Q3 Earnings Miss

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Wayfair stock was down on Thursday following the release of its earnings report for the third quarter of 2018.

Wayfair Stock Dives on Q3 Earnings Miss Source: Shutterstock

The bad news for  Wayfair (NYSE: W ) starts with losses per share of $1.28 for the third quarter of the year. This is worse off than the company's losses per share of 65 cents from the third quarter of 2017. Even worse for Wayfair stock is that it was well below Wall Street's losses per share estimate of $1.09 for the period.

Wayfair's earnings report for the third quarter of 2018 also has it reporting a net loss of $151.73 million. The e-commerce company's net loss from the same period of the year prior was $76.43 million.

Operating loss reported by Wayfair for the third quarter of the year came in at $145.27 million. This is a bigger operating loss than the $73.96 million that was reported in the third quarter of the previous year.

Wayfair also reported revenue of $1.71 billion for the third quarter of 2018. This is an increase over the company's revenue of $1.20 billion reported during the same time last year. It also beat out analysts revenue estimate of $1.67 billion for the quarter, but couldn't keep Wayfair stock from diving today.

"We are pleased to report another quarter of incredibly strong growth with our Direct Retail business growing 43 percent this past quarter," Niraj Shah, CEO, co-founder and co-chairman for Wayfair, said in a statement . "We are delighted with the market share we are winning as we continue to invest in leading the way in bringing customers the best possible shopping experience in our category online.

W stock was down 13% as of noon Thursday, but is up 36% year-to-date.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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The post Wayfair Stock Dives on Q3 Earnings Miss appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: W

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