Why Wayfair Stock Gained Today

Shares of Wayfair (NYSE: W) gained as much as 10% today after the company reported first-quarter earnings. Revenue in the first quarter increased 49% to $3.5 billion, topping the consensus estimate of $3.4 billion in sales. "Wayfair's focus remains squarely on connecting all of the industry's customers and suppliers on our unique platform, which is custom-built to address the specific needs of shopping for the home," CEO Niraj Shah said in a statement.