BUZZ-Wayfair stock rises on strong quarterly performance

November 4 - ** Furniture retailer Wayfair (W.N) shares rose 2% in premarket trading to $113.70

** Thanks to stable product demand, the company’s third-quarter revenue and profit both exceeded market expectations

** Third-quarter revenue was $3.42 billion, higher than the expected $3.38 billion—data compiled by LSEG

** Adjusted earnings per share for the third quarter were $0.93, higher than the expected $0.79

** The number of active customers grew by 4.7% in the quarter, reaching 22.2 million

** “We believe this result should not reignite concerns in the market that management’s investments in pricing and customer loyalty may weigh on overall profitability,”—William Blair analyst

** As of the previous trading day’s close, the stock had risen about 11% so far this year

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