Wayfair shares rose 11% on Wednesday after the home goods e-commerce company reported stronger-than-expected profit despite a tepid economic backdrop. Third-quarter net revenue grew 9.7% year over year to $3.4 billion, with U.S. net revenue up 11.4% to $3 billion, its fastest growth since the early stages of the pandemic. Adjusted EPS rose 33% to $0.93, above the Wall Street estimate of $0.79, while active customers grew 4.7% to 22.2 million. For the fourth quarter, Wayfair expects 'high single-digit growth' in revenue, and CEO Niraj Shah said order and customer momentum gives confidence that its share gains are structural.
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