Yahoo Finance Wayfair (W) Reports Q2: Everything You Need To Know Ahead Of Earnings
Online home goods retailer Wayfair (NYSE: W) will be reporting results tomorrow before the bell. Here's what to look for.
Wayfair beat analysts' revenue expectations by 3.5% last quarter, reporting revenues of $2.73 billion, down 1.6% year on year. It was a mixed quarter for the company, with revenue growth. It reported 22.3 million active buyers, up 2.8% year on year.
Is Wayfair a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Wayfair's revenue to be flat year on year at $3.18 billion, improving from the 3.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.47 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Wayfair has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.4% on average.
Looking at Wayfair's peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Pinterest delivered year-on-year revenue growth of 20.6%, meeting analysts' expectations, and Netflix reported revenues up 16.8%, in line with consensus estimates. Netflix traded down 1.5% following the results.
Read our full analysis of Pinterest's results here and Netflix's results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 2.5% on average over the last month. Wayfair is up 4.9% during the same time and is heading into earnings with an average analyst price target of $72.8 (compared to the current share price of $54.05).
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