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Sep 30, 2020
Beyond Q3 2020 Earnings Report
Reported quarterly net income of $23 million and total net revenue of $732 million.
Key Takeaways
Overstock.com, Inc. reported strong Q3 2020 financial results, with total net revenue reaching $732 million, a 111% increase year-over-year. Net income attributable to stockholders was $23 million, a significant improvement of $54 million year-over-year, and diluted earnings per share was $0.50, up $1.39 year-over-year. The company's Retail business saw substantial growth, with new customers increasing by 141%.
Total net revenue increased by 111% year-over-year, reaching $732 million.
Net income attributable to stockholders improved by $54 million year-over-year, totaling $23 million.
Diluted earnings per share improved by $1.39 year-over-year, reaching $0.50.
New Retail customers increased by 141% year-over-year.
Forward Guidance
Overstock anticipates continued growth and profitability in its Retail business, driven by sustained demand and effective execution of strategic initiatives. The company also expects ongoing advancements in its Medici Ventures blockchain-based businesses, with several companies raising capital and generating revenue.
Positive Outlook
- Confident in Retail business maintaining sustainable, profitable market share growth.
- Medici Ventures blockchain-based businesses continue to make meaningful advancements.
- tZERO received FINRA approval to provide retail brokerage services for digital securities.
- Several Medici Ventures companies are raising capital and generating revenue.
- Organization remains focused and disciplined in executing strategic initiatives.
Challenges Ahead
- Challenges created by the sharp increase in volume in customer service channels.
- Challenges in fulfillment and delivery stemming from capacity issues from shipping carriers.
- Some suppliers facing out-of-stock positions on some of our top performing products.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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