Wayfair (W) Surpasses Q1 Expectations Despite Revenue Decline: A Deep Dive into the Coin’s Performance

• Wayfair reports a narrower loss than expected in Q1 2024, with a non-GAAP loss of 32 cents per share, beating the Zacks Consensus Estimate of a 45 cents per share loss.
• The company’s net revenues of $2.73 billion exceeded the consensus mark by 3.3%, despite a 1.6% year-over-year decrease.
• Wayfair’s active customer base saw a growth of 2.8% year over year, reaching 22.3 million, surpassing the consensus mark by 0.26%.

Wayfair Inc. reports better-than-expected Q1 2024 results, with a narrower loss and higher revenues, driven by growth in its active customer base.

Wayfair’s Q1 2024 Financial Performance

Wayfair’s Q1 2024 non-GAAP loss of 32 cents per share was narrower than the Zacks Consensus Estimate for a loss of 45 cents per share. This represents a significant improvement from the loss of $1.13 per share reported in the same quarter of the previous year. The company’s net revenues of $2.73 billion surpassed the consensus mark by 3.3%, despite a slight 1.6% year-over-year decrease.

Growth in Active Customer Base

Despite the slight decrease in net revenues, Wayfair saw a positive growth in its active customer ba... Read the full article for FREE at COINOTAG!