Wayfair Inc.’s stock W, -1.11% jumped 11.7% premarket Thursday, after the online furniture retailer posted a narrower-than-expected first-quarter loss and revenue that beat consensus estimates. The company’s loss for the first quarter was $355 million or $3.22 per share. This compares to a $319 million loss or $3.04 per share in the previous period. The adjusted loss per share was $1.13. This is less than the $1.75 loss that the FactSet consensus predicted. The revenue fell from $2.993 to $2.774, but it was still higher than the FactSet consensus of $2.737. In a statement, CEO Niraj Shah stated that “this was a very strong quarter for Wayfair. We are happy to see consistent market share gains as well as a significant improvement to our cost structure from last quarter which gets us to almost Adjusted EBITDA Breakeven in Q1”. The stock is down 9% year-to-date, while S&P 500 SPX, -1.80% is up 6.5%.