What's Going On With E-commerce Company Wayfair Shares Today?

Wayfair Inc W shares are trading lower by around 2% after it reported Q3 FY23 results.

The company reported a Q3 FY23 sales increase of 3.7% Y/Y to $2.94 billion, missing the consensus of $2.98 billion.

International net revenue fell 7.0% Y/Y to $372 million, while U.S. revenue rose 5.4% Y/Y to $2.6 billion.

The number of active customers reached 22.3 million as of September 30, 2023, a decrease of 1.3% Y/Y. The average order value was $297 vs. $325 a year ago.

In Q3, 61.7% of total orders delivered were placed through a mobile device, versus 58.6% last year.

Gross profit stood at $917 million, with a margin of 31.1%. Loss from operations for the quarter was $(152) million versus a loss of $(372) million last year.

Adjusted EPS of $(0.13) beat the analyst consensus of $(0.48). 

The company held over $1.28 billion in cash and equivalents. Net cash used in operating activities for the quarter was $121 million, and free cash flow was $42 million.

Also Read: Wayfair Offset Demand Headwinds With Market Share Growth, Asserts Analyst Ahead Of Q3 Results

Price Action: W shares are trading lowe by 1.7% at $41.90 on the last check Wednesday.