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

Key highlights from Halliburton (HAL) Q1 2021 earnings results

Halliburton Company (NYSE: HAL) reported first-quarter 2021 earnings results today. Total revenue decreased by 31% to $3.45 billion from $5.03 billion year on year. The company had a net income

Key highlights from Intuitive Surgical (ISRG) Q1 2021 earnings results

Intuitive Surgical, Inc. (NASDAQ: ISRG) reported first quarter 2021 earnings results today. Revenues increased 18% year-over-year to $1.29 billion, driven by growth in da Vinci procedures and system placements. GAAP net income

Earnings Infographic: Netflix (NFLX) subscriber growth slows; Q1 results beat

Netflix, Inc. (NASDAQ: NFLX) Tuesday said its first-quarter 2021 earnings more than doubled. Both revenues and profit topped the Street view, but the streaming giant's subscriber growth decelerated. At the

Tags

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