Wayfair shares surge after earnings top estimates and sales stay above pre-pandemic levels

Furniture seller Wayfair reported second-quarter earnings on Thursday that topped analyst estimates, but its revenue fell short.

Shares of the company rose nearly 5% in premarket trading.

Here’s how the company did for its second quarter ended June 30 compared with what analysts surveyed by Refinitiv were anticipating:

• Earnings per share: $1.89 vs. $1.15 expected
• Revenue: $3.86 billion vs. $3.94 billion expected

During its second-quarter, the company reported a net income loss of $130.4 million, or $1.14 per share, compared to $273.9 million, or $2.54 per share, from a year earlier.

Excluding items, the company reported earnings of $1.89 per share, beating the $1.15 per share expected by analysts surveyed by Refinitiv.

The company reported a revenue of $3.86 billion, compared with expectations of $3.94 billion.

The stock is down more than 30% from its 52-week high of $369 which it reached on January 14.