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Wayfair Beats Estimates on Covid Home-Improvement Trend

Photographer: Gabby Jones/Bloomberg
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Wayfair Inc. reported quarterly financial results that exceeded analysts’ estimates, suggesting the wave of home improvement inspired by the Covid-19 pandemic is lingering.

The Boston-based company, one of the largest online furniture retailers, reported a third-quarter profit of $2.30 a share, excluding certain items. Sales jumped 67% to $3.84 billion, Wayfair said in a statement. Analysts expected earnings of 85 cents a share on revenue of $3.67 billion, according to data compiled by Bloomberg.