Shares of e-commerce company Wayfair Inc. (W) are slipping more than 19% Thursday morning after reporting wider loss in the fourth quarter, that missed analysts’ estimates.
The company reported net loss of $351 million or $3.26 per share, wider than loss of $202 million or $1.92 per share last year.
Excluding one-time items, loss was $1.71 per share. that missed the average estimate of analysts polled by Thomson-Reuters of $1.61 loss per share.
Quarterly revenue decreased 4.6% year-over-year to $3.1 billion. The consensus estimate was for $3.06 billion.
The company’s active customers decreased 19% to 22.1 million.
Wayfair shares, currently at $40.15, has traded in the range of $28.11-$143.40 in the last 1 year.
Source: Read Full Article