US Stock Market Move | Wayfair (W.US) surged over 29% as Q2 performance exceeded expectations.
On Tuesday, Wayfair (W.US) surged over 29%, closing at $115.40.
On Tuesday, Wayfair (W.US) surged over 29%, latest at $115.40. According to news, the second-quarter financial report showed that the company's revenue reached $3.5 billion, a year-on-year increase of 7%, exceeding market expectations by about $30 million. The non-GAAP free cash flow for the quarter hit $301 million, marking a new high since 2020.
In the second quarter, GAAP earnings per share shifted from a profit of $0.11 in the same period last year to a loss of $0.01, primarily due to a $59 million debt settlement loss incurred from the buyback of $145 million notes maturing in 2028; the non-GAAP adjusted earnings per share was $0.95, up 9% year-on-year, beating market expectations by $0.03. The gross margin remained at 30%.
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