- Overstock.com press release ( NASDAQ: OSTK ): Q3 Non-GAAP EPS of $0.13 beats by $0.08 .
- Revenue of $460.28M (-33.2% Y/Y) misses by $12.59M .
- Shares +6.3% PM.
- "Despite a challenging retail environment, our business continues to be profitable for the tenth consecutive quarter, and we ended the quarter with a strong balance sheet and cash position," said Overstock CEO Jonathan Johnson. "Our sales trends improved in late-Q3, including a successful Labor Day event that culminated into our biggest sales day of the year thus far. We improved gross margin by leveraging our differentiated asset-light business model, supported our vendor partners to move through ample inventory, and continued to provide smart value to our customers in a highly promotional time. We accomplished this while navigating shifting consumer spending preferences, high inflation and macro headwinds that put pressure on our industry."
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Overstock.com Non-GAAP EPS of $0.13 beats by $0.08, revenue of $460.28M misses by $12.59M