Wayfair (W) reported better-than-expected first-quarter earnings early Thursday. But Wayfair stock fell.
The e-commerce company reported adjusted earnings of $1 a share on revenue of $3.48 billion. Analysts expected Wayfair to report earnings of 26 cents on revenue of $3.4 billion.
Wayfair stock retreated 3% in premarket action on the stock market today.
Boston-based Wayfair runs a variety of websites, offering more than 18 million items. The sites offer home furnishings, appliances and decor across a number of styles and price points. In addition to Wayfair.com, the company also runs Birch Lane, Joss & Main and Perigold.
The e-commerce company has been a consistent performer during the Covid-19 disruption, having maintained double-digit revenue growth per quarter for several years and triple-digit earnings growth for the past three quarters.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
YOU MAY ALSO LIKE: