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Overstock Shows Massive Growth In Q2

In a massive growth, the blockchain-involved company Overstock recorded triple digit percentage growth compared to that in 2019, according to recent Q2 financial details.

“Total net revenue was $783 million, an increase of 109% year over year,” a public statement said on July 30. “Gross profit was $180 million or 23.0% of total net revenue, an improvement of 321 basis points year over year.”

Overstock gave its stock shareholders a new kind of dividend payout in May, according to a report in Cointelegraph. It is a security token under the ticker OSTKO, a slight alteration from its mainstream stock ticker, OSTK.

According to comments in the statement from Overstock’s CEO, Jonathan Johnson. Johnson noted such businesses brought forth timely solutions in the face of current national issues

“As an organization, Overstock remains focused, disciplined, and resilient as our employees execute against our strategic initiatives,” he said.

“I am proud of the progress we have made, and I am confident that we can continue along this profitable trajectory. I look forward to providing a full update on our progress and performance during our earnings call,” the CEO added.

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