Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4
Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4 Overstock Clocks 33% Revenue Decline In Q3 – Overstock.com (NASDAQ:OSTK) – Stocks to Watch
Active customers decreased 33% Y/Y to 5.8 million. Orders delivered fell 41% Y/Y to 1.9 million, and the average order value gained 13% Y/Y to $243.
Adjusted EPS of $0.13 beat the analyst consensus of $0.12.
Gross profit fell 31.4% Y/Y to $107.5 million, with a gross profit margin of 23.3%.
Operating margin was 1.2%, and operating income for the quarter declined over 95% to $5.7 million.
Adjusted EBITDA decreased to $14.8 million from $36.1 million last year.
The company held $427.5 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities for nine months amounted to $17.6 million.
Price Action: OSTK shares are trading lower by 3.39% at $24.76 on the last check Thursday.
