Wayfair (W) Soars to New High on Strong Q3 Revenue

We recently published 10 Stocks Soaring by Double Digits; Uranium Stocks Leading. Wayfair Inc. (NYSE:W) is one of the top-performing stocks on Tuesday.

Wayfair soared to a new 52-week high on Tuesday, as investors cheered a stellar revenue performance in the third quarter of the year, suggesting strong consumer demand despite the threats of import tariffs.

In intra-day trading, Wayfair Inc. (NYSE:W) jumped to a new high of $108.44 before trimming gains to finish the session just up by 23.22 percent at $106.52 apiece.

This followed a surprise 8 percent revenue jump in the third quarter of the year to $3.117 billion from $2.884 billion in the same period last year.

Revenues from its US business alone rose by 8.6 percent to $2.7 billion, while those from its international operations grew by 4.6 percent to $389 million.

However, net loss widened by 34 percent to $99 million from $74 million in the same period last year.

Commenting on the performance, Wayfair Inc. (NYSE:W) CEO Niraj Shah said that the third quarter “was a great success.”

“As we’ve promised, substantial profitability flows through is powered by a strong contribution margin and fixed cost discipline as our business has returned to growth,” he noted.

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Disclosure: None. This article is originally published at Insider Monkey.