Overstock Announces Second Quarter 2022 Financial Results | News | bakersfield.com – The Bakersfield Californian

Navigated ongoing macroeconomic and geopolitical volatility to deliver another profitable quarter

Continued share repurchases and ended the quarter with a strong cash position

SALT LAKE CITY, July 28, 2022 (GLOBE NEWSWIRE) — Overstock.com, Inc. (NASDAQ:OSTK) today reported financial results for the quarter ended June 30, 2022.

Second Quarter 2022 Financial Highlights, from continuing operations

•	Total net revenue of $528 million, a decrease of 34% year over year
•	Gross profit of $121 million or 22.9% of total net revenue
•	Income from continuing operations of $7 million
•	Diluted earnings per share of $0.12
•	Adjusted EBITDA (non-GAAP) of $21 million, which represents 3.9% of net revenue
•	Cash and cash equivalents totaled $443 million at the end of the second quarter

“Our disciplined execution and differentiated asset-light operating model allowed us to remain profitable for the ninth consecutive quarter, even with weak consumer sentiment, ongoing macroeconomic…

Read Full Story: https://www.bakersfield.com/ap/news/overstock-announces-second-quarter-2022-financial-results/article_28ca311a-0339-51fc-9992-bd5a7184b40a.html

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