Categories Earnings, LATEST, Retail, Technology

Jumia Technologies delivers 69% GMV growth in Q2

An e-commerce platform that operates primarily in Africa, Jumia Technologies (NYSE: JMIA) on Wednesday said its second-quarter revenues improved 58.3% to €39.2 million (approx. $43.5 million), as marketplace revenues almost doubled year-over-year.

The top-line was slightly short of the street projection of $45.88 million.   

retail stocks
Picture Courtesy: Tumisu (Pixabay)

Gross merchandise volume grew 68.9% to €281 million in Q2, on the back of the growth of Active Consumers and spend per Active Consumer.

The number of active customers at the end of the quarter was 4.8 million, up from 3.2 million a year ago.

Meanwhile, operating loss increased from €41.9 million a year ago to €66.7 million in the second quarter of 2019, mainly due to an increase in share-based compensation expense. However, adjusted EBITDA loss, as a percentage of GMV narrowed from -21.4% to -15.8% on better margins.

READ: These 5 factors are making Tesla stock unattractive

The Germany-headquartered firm debuted on the New York Stock Exchange in April this year, listing 13.5 million shares for $14.50 apiece. The stock shot up 76% on the first day of trading, but the enthusiasm disappeared in the following days.

JMIA shares fell 12% immediately following the earnings announcement. Till date, the stock is up only 1.7% from its offer price.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Cost reduction has become a priority for FedEx (FDX) after a challenging quarter

Shares of FedEx Corporation (NYSE: FDX) were up 1% on Tuesday. The stock has dropped 44% year-to-date and 34% over the past 12 months. The company delivered mixed results for

Prime Medicine is the next big biotech to pursue IPO. Here’s all you need to know

After a soft start to the year, the IPO market has witnessed muted activity so far though a few big companies entered the stock market. On the heels of AIG

Stock Watch: Is Darden Restaurants a good buy after earnings?

After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top