Wayfair is inching closer to profitability, but its third-quarter results still fell short of revenue expectations as the home market continues to be under pressure.
Excluding one-time items, Wayfair reported an adjusted loss of 13 cents per share.
Wayfair has been focusing on cost discipline to drive profitability and protect its margins as demand remains tepid across the home goods sector and other consumer discretionary categories.
That discipline led Wayfair to see adjusted earnings before interest, tax, depreciation and amortization of $100 million, compared to the $55 million analysts had expected, according to StreetAccount.
During the quarter, those costs came down to $596 million, compared to $656 million in the year ago period.
Persons:
Wayfair, it's, who've, Niraj Shah
Organizations:
New York Stock Exchange, LSEG
Locations:
U.S