RTTNews | Oct 29, 2020 10:16AM EDT

10:16 Thursday, October 29, 2020 (RTTNews.com) - Shares of online retailer Overstock.com, Inc. (OSTK) are climbing more than 6 percent or $4.64 in Thursday's morning trade at $76.62 after the online retailer reported a turnaound to profit in the third quarter.

Thursday, Overstock.com reported third-quarter net income of $23.39 million or $0.50 per share, compared to net loss of $30.94 million or $0.89 per share in the year-ago period. Net revenue for the quarter surged to $731.65 million from $347.10 million last year. Analysts polled by Thomson Reuters had a consensus estimate for loss of $0.23 per share for the quarter on revenues of $579.89 million.

Overstock has traded in a range of $2.53 to $128.50 in the past 52 weeks.

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