Wayfair Stock Soars 9% on Q1 Results
Wayfair (NYSE: W) rocked the market on Wednesday, delivering Q1 of fiscal 2020 that showed a significantly narrower-than-expected loss for the period, and higher sales. On average, prognosticators following Wayfair were modeling $2.31 billion on the top line, and a deeper net loss of $2.60 per share. Although the SARS-CoV-2 coronavirus outbreak is hitting the global economy hard, the situation worked to Wayfair's advantage during the quarter.