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

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,


Add Comment
Viewing Highlight