- Newegg Commerce Inc (NASDAQ:NEGG) reported first-half 2022 net sales of $890.5 million.
- The company posted a 1H gross profit of $110.8 million, a net loss of $(18.9) million, and an adjusted EBITDA loss of $(4.0) million.
- Newegg sees Q3 sales of $358.8 million – $383.3 million.
- NEGG expects Q3 gross profit of $42 million – $45 million and adjusted EBITDA of $(1.7) million – $0.1 million.
- “As with many in our industry, our performance for the first half of 2022 was affected by several factors that were out of our control including macroeconomic conditions, higher inflation, and a weak sales environment due to changes in customer spending behavior,” said CEO Anthony Chow.
- Price Action: NEGG shares are trading lower by 0.56% at $3.72 on the last check Friday.
US Stocks Mixed; Retail Sales Drop 1% In March
U.S. stocks traded mixed this morning, following the release of economic reports.
Following the market opening Friday, the Dow traded up 0.08% to 34,055.40 while the NASDAQ fell 0.10% to 12,153.84. The S&P 500, also rose, gaining, 0.13% to 4,151.57.
