Wayfair reports Q2 adjusted EPS 21c, consensus (68c)

GAAP EPS was (41c). Reports Q2 revenue $3.2B, consensus $2.82B. “Last year, we laid out a plan to strengthen our business that included a path to sustainable and growing profitability with several key milestones. For the past few quarters, you’ve seen us execute against that plan – to lower our costs, focus on the basics and earn more customer and supplier loyalty. And you’ve seen the tangible impact of this plan as our performance has continued to improve. I’m pleased to share today that we’ve passed one of our key milestones and we are reporting positive adjusted EBITDA and positive free cash flow,” said Niraj Shah CEO, co-founder and co-chairman, Wayfair. Active customers totaled 21.8 million as of June 30, 2023, a decrease of 7.6% year over year.