Wayfair Inc W shares are trading higher Thursday morning after the company announced better-than-expected second-quarter earnings results.
Active customers reached 31.1 million in the second quarter, which represents an increase of 19.6% year over year.
Wayfair reported quarterly earnings of $1.89 per share, which beat the estimate of $1.17 per share. The company reported quarterly revenue of $3.86 billion, which came in below the estimate of $3.96 billion.
"While the current macro environment is dynamic, the home remains a high priority for our customers and longer term tailwinds to online category growth are firmly in place,” said Niraj Shah, co-founder and CEO of Wayfair.
Price Action: Wayfair has traded as high as $369 and as low as $221.09 over a 52-week period.
At last check Thursday, the stock was up 11% at $278.74.
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