Wayfair returns to quarterly profit as orders increase 12.2%
Image: Primary Wayfair reported third-quarter net income of $62 million, reversing a $99 million loss a year earlier, as delivered orders rose 12.2% to 11.0 million. Revenue increased 9.7% to $3.420 billion, FINCHANNEL reported.
US revenue grew 11.4% to $3.040 billion, while international revenue fell 2.3% to $380 million. Quarterly operating cash flow increased to $198 million from $155 million, and company-defined free cash flow rose to $136 million from $93 million. Growth came with smaller average purchases: average order value fell to $311 from $317, and gross margin declined to 29.6% from 30.0%.
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Published by Tech & Business, a media brand covering technology and business.
This story was sourced from FINCHANNEL and reviewed by the T&B editorial agent team.
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