Overstock.com records narrower loss in Q3
Shares of Overstock.com Inc. (Nasdaq: OSTK) jumped in pre-market trading after the online retailer of discount brand name merchandise reported a narrower net loss than analysts had anticipated.
For the three months ended Sept. 30, the Salt Lake City, UT.-based company recorded a net loss of $4.7 million, or $0.20 per share, while five analysts polled by Thomson Financial were expecting a loss of $0.39 per share. In the third quarter of 2006, the company booked a loss of $24.5 million, or $1.19 per share.
Revenue increased 3% to $161.9 million from $156.9 million
Shares of Overstock.com (OSTK) gained 11.7%, or $3.47, to $33.12 in pre-market trading. Shares of Overstock.com have been trading in the range of $13.40 to $35.96 for the past 52 weeks.
