Wayfair Q2 Earnings Fall Short As Cautious Consumer Spending Impact Profit
Portfolio Pulse from Nabaparna Bhattacharya
Wayfair Inc. (NYSE:W) reported Q2 earnings that fell short of expectations, with adjusted EPS of 47 cents missing the street view of 49 cents and sales of $3.117 billion missing the consensus of $3.179 billion. U.S. net revenue fell by $55 million, while international net revenue saw a slight increase. The company cited cautious consumer spending as a key factor. Shares dipped 3.88% following the report.
August 01, 2024 | 2:13 pm
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Wayfair's Q2 earnings report showed adjusted EPS of 47 cents and sales of $3.117 billion, both missing analyst expectations. U.S. net revenue fell by $55 million, while international net revenue saw a slight increase. The company cited cautious consumer spending as a key factor. Shares dipped 3.88% following the report.
Wayfair's Q2 earnings and sales both missed analyst expectations, leading to a 3.88% drop in share price. The decline in U.S. net revenue and cautious consumer spending are significant factors contributing to the negative short-term impact on the stock.
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