Overstock.com (NASDAQ:OSTK) is seeing a stock surge in its pre-market trading. The controversial online discount retailer posted a narrower than expected loss of $4.7 million on a 3% rise in revenues to $161.9 million. The loss per share was -$0.20 EPS. First Call had consensus estimates of -$0.39 EPS on revenues of $155.1 million.
On an operating cash flow basis, Overstock posted a $5.9 million positive cash flow, and that is critical since that was a Q3 number rather than just a Q4 holiday quarter. On an EBITDA basis, the company posted a positive $4.1 million.
The big upside on revenues compared to estimates combined with lower sales marketing costs (down 49%) appear to have paid off. The stock is trading up over 14% to $34.00, well above the $13.40 lows of the last year and just under the $35.96 52-week high. At the end of September, the NASDAQ short interest in Overstock was listed as 4.611 million shares, about 15.5 days to cover.
Jon C. Ogg
October 19, 2007
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
