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Wayfair Sales Rise 10% in Third Quarter as It Gains Share in Slow Market
Cheng Xin | Getty Images Wayfair on Wednesday said it posted its strongest quarter of sales growth since the pandemic as the furniture
Key points
- Platform segment revenue grew 23% to $1.3 billion, with advertising and subscriptions both up 23%.
- Devices revenue jumped 33% to $194 million, but the segment posted a $48.6 million operating loss driven by higher memory costs.
- Roku is not hosting an earnings call or providing financial guidance, citing the pending Fox acquisition.
Why it matters. The pending $22 billion Fox takeover, expected to close in the first half of calendar 2027, is the reason Roku is withholding an earnings call and guidance.
Cheng Xin | Getty Images Wayfair on Wednesday said it posted its strongest quarter of sales growth since the pandemic as the furniture retailer continues to win over customers and take market share. The company said it saw double-digit revenue growth in the U.S., reaching about $3 billion, an 11.4% increase from the year prior. Still, international net revenue for the quarter decreased 2.3% year over year to $380 million. The report comes as the housing market remains sluggish.
Latest updates
Wayfair Sales Rise 10% in Third Quarter as It Gains Share in Slow Market
CNBC reports that Wayfair's sales rose 10% in the third quarter. The online furniture retailer described the quarter as its strongest since the pandemic. The company said it is gaining market share in a furniture market that remains sluggish. The results point to resilient demand for the retailer despite weak conditions across the broader sector. The report does not include further details on profit or guidance in the snippet provided.
Roku Reports Third-Quarter Sales Up 24% as Ad Spending Growth Hits Four-Year High
Roku reported third-quarter sales that rose 24% from a year earlier, according to Variety. The company said advertising spending in media and entertainment grew at its fastest pace in four years. Roku's financial performance has strengthened ahead of its planned takeover by Fox Corp., which is expected to close next year. The results point to continued demand for advertising on streaming platforms. Further details on profit and guidance were not available in the source material.