RTTNews | Apr 29, 2021 02:39PM EDT

14:38 Thursday, April 29, 2021 (RTTNews.com) - Shares of Overstock.com, Inc. (OSTK) are up nearly 9% on Thursday, after the online retailer swung to a profit in the first quarter, as revenues nearly doubled.

Overstock reported a first-quarter profit of $16.09 million or $0.33 per share, compared to a loss of $16.33 million or $0.40 per share last year. Revenues for the first quarter rose $659.86 million, higher than $339.60 million in the same quarter of the last year.

Analysts polled by Thomson Reuters expected earnings of $0.06 per share on revenues of $582.35 million for the quarter.

Currently, the shares of Overstock.com are trading at $76.92, up by 8.67% from the previous close of $70.81 on a volume of 7.2 million shares. For the 52-week period, the shares have traded in a range of $11.10 - $128.50 on an average volume of 2.2 million shares.

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