Shares of Overstock.com Inc. OSTK, +0.35% surged 8.6% in premarket trading Thursday, after the online retailer reported first-quarter profit and revenue that were well above expectations, as active users nearly doubled. The company swung to net income of $16.1 million, or 33 cents a share, from a loss of $16.3 million, or 40 cents a share, in the year-ago period. Excluding discontinued operations, earnings per share came to 56 cents. The FactSet EPS consensus was 4 cents. Revenue soared 94% to $659.9 million, above the FactSet consensus of $582.4 million. Active customers rose 92% to 9.9 million, while orders delivered 66% to 3.6 million and average order value grew 17% to $183. The stock has lost 8.8% over the past three months through Wednesday, while the Amplify Online Retail ETF IBUY, +1.08% has gained 3.7% and the S&P 500 SPX, -0.08% has advanced 12.6%.
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