BOSTON (AP) — BOSTON (AP) — Wayfair Inc. (W) on Thursday reported a loss of $248 million in its first quarter.
On a per-share basis, the Boston-based company said it had a loss of $2.06. Losses, adjusted for stock option expense and restructuring costs, were 32 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 45 cents per share.
The online home goods retailer posted revenue of $2.73 billion in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $2.64 billion.
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