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Thursday, March 15, 2018 (OSTK) reported earnings on Thur 15 March 18 (a/h) reports Q4 (Dec) results, misses on revs
  • Reports Q4 (Dec) loss of $0.94 per share, which excludes a $70.8 mln non-cash adjustment for Tax Cuts and Jobs Acts. May not be comparable to the single analyst estimate of ($0.03); revenues fell 13.3% year/year to $456.3 mln vs the $526.18 mln single analyst estimate.
    • Gross profit: $85.8M vs. $98.0M (12% decrease); 
    • Gross margin: 18.8% vs. 18.6% (18 basis point increase).
  • Q1 Outlook
    • 'We have determined to switch to a growth strategy in our ecommerce business, which we believe will lead to higher revenue growth, but also incur significant losses in the process. In pursuit of this growth strategy, in Q1 2018 we have increased our sales and marketing expenditures substantially to increase revenue growth and to test new marketing initiatives. Largely as a result of this new strategy, we expect to incur a total pre-tax loss of approximately $50 million in Q1 2018 ($35 million ecommerce, $15 million Medici)'.

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