Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Wayfair Inc.’s stock W, +1.74% fell 6.4% in premarket trades on Wednesday after the home goods retailer’s third-quarter revenue fell short of analyst expectations. Wayfair said its third-quarter loss narrowed to $163 million, or $1.40 a share, from a loss of $283 million, or $2.66 a share, in the year-ago quarter.
Wayfair’s adjusted loss of 13 cent share beat the FactSet consensus estimate for a loss of 48 cents a share. Wayfair’s third-quarter revenue rose 3.7% to $2.94 billion, below the $2.98 billion analysts’ consensus view. “Even with a turbulent macro, we remain committed to our profitability goals in good times and bad,” the company said. Active customers fell 1.3% to 22.3 million.
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