What's Going On With Wayfair Shares Today?

Wayfair Inc W is trading lower Thursday morning after the company announced worse-than-expected fourth-quarter earnings results. 

Wayfair said quarterly revenue was down 11.4% year-over-year to $3.3 billion, which beat the $3.25 billion estimate. The company reported an earnings loss of 92 cents per share, which came in below the estimate for a loss of 69 cents per share. 

"While consumer behavior has changed repeatedly throughout the pandemic, the primary elements for success in our category have not - the home remains top of mind and secular trends favor a long and durable shift to e-commerce. Wayfair has only just begun to scratch the surface of this vast opportunity," said Niraj Shah, co-founder and CEO of Wayfair.

Wayfair said it continues to work on its high ROI initiatives in order to set the company up for continued strong growth.

See Also: 32 Stocks Moving in Thursday's Pre-Market Session

W Price Action: Wayfair has traded as low as $117.88 and as high as $355.96 over a 52-week period.

The stock was down 3.96% at $116.49 at time of publication.

Photo: StockSnap from Pixabay.