- Overstock ( NASDAQ: OSTK ) stock is falling 8% in Thursday premarket trading after the online retailer's Q2 results fell short of Wall Street expectations, highlighting a slump in active customers as well as orders delivered.
- During the second quarter, the company repurchased $34.9M of its common stock at an average price of $30.69, compared with $28.28 at Wednesday's close.
- Q2 revenue of $528.1M also fell under the consensus of $600.7M and slipped from $794.5M in Q2 of last year.
- Expenses totaled $109.6M at June 30, down from $138.3M in the year-ago period.
- Operating income for Q2 slid to $11.5M from $36.5M in Q2 a year ago.
- Active customers were 6.49M at June 30 vs. 9.17M at June 30, 2021.
- Q2 orders delivered came in at 2.14M compared with 3.74M in Q2 2021.
- Conference call at 8:30 a.m. ET.
- Earlier, Overstock Q2 Non-GAAP EPS of $0.19 misses by $0.23.
For further details see:
Overstock shares drop after Q2 miss on sinking active customers, orders delivered