BOSTON (AP) — BOSTON (AP) — Wayfair Inc. (W) on Thursday reported a loss of $113 million in its first quarter.
On a per-share basis, the Boston-based company said it had a loss of 89 cents. Earnings, adjusted for one-time gains and costs, came to 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The online home goods retailer posted revenue of $2.73 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $2.71 billion.
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