Beyond shares tumble after quarterly report

Neighborhood Intelligence

24/10/2024 17:57

** Shares in e-commerce co Beyond Inc  BYON.N  were down 31% on
Thursday, hitting lowest level since April 2020, after quarterly
results disappoint investors 
    ** BYON, owner of retail brands such as Overstock, Bed Bath
& Beyond and Zulily, reported Q3 rev of $311.43 mln, down 16.6%
YTD and below Wall St consensus expectation for $353.02 mln 
    ** BYON's adj loss/shr of $1.33 compared with year-ago loss
of $0.61/shr and consensus expectation for loss/shr of $0.72
    ** Stock last traded at $6.60 vs median PT of $14, as per
LSEG, which shows 12 analyst ratings: 2 'strong buy,' 2 'buy'
and 8 'hold' ratings
    ** YTD BYON shares down 76%, tracking it for biggest annual
decline since 2018

 (Reporting by Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))