Wayfair's second quarter results were well ahead of estimates due to "unprecedented demand" as the hit 26 million active customers working on home and home office projects aseducation and work went remote.
Amid theCOVID-19 pandemic, furniture retailing moved online.Wayfairsaidsecond quarter revenuewas $4.3 billion, up 83.7% from a year ago, with net income of $273.9 million, or $2.54 a share. Non-GAAP earnings for the second quarter were $3.13 a share.
Wall Street was expecting non-GAAP second quarter earnings of $1.04 a share on revenue of $4.06 billion.
Wayfair's second quarter highlighted how the company has been able to generate operating leverage and deliver profits. The company's US revenue was up 82.5% and international sales were up 90.5% off a smaller base.
CEO Niraj Shah said:
By the numbers:
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