Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Overstock.com’s income falls, revenues higher
First Published Jul 25 2014 01:01 pm • Last Updated Jul 25 2014 01:01 pm

Overstock.com’s net income fell by almost 50 percent in the quarter ending June 30, but the Salt Lake City-based company still posted a profit for the 10th straight quarter.

Company CEO Patrick Byrne said Thursday that net quarterly income was $1.9 million, or 8 cents per share, down from $3.7 million, or 15 cents a share, in the same quarter in 2013.

Join the Discussion
Post a Comment

Revenues were a bright spot for the online sales company, jumping 13 percent year-over-year to $332.5 million.

"Our increases in technology spending have supported an innovation cycle that has spun up to the point that we can conceive and execute on ideas much faster than at any previous time in our existence," Byrne said.

He also noted that a federal appeals court in California will hear oral arguments Aug. 15 on an Overstock.com lawsuit against Goldman Sachs and Merrill Lynch.




Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.