Jumia Tech Shares Drop After Q1 Miss Led By Order And Consumer Decline; Cost Cuts Help Reduce Losses
Portfolio Pulse from Anusuya Lahiri
Jumia Technologies reported a Q1 FY23 revenue decline of 2.8% YoY to $46.3 million, missing the consensus of $50.5 million. Orders and active consumers declined, while cost reduction initiatives helped reduce losses. The company reiterated an adjusted EBITDA loss of $(100) million - $(120) million for FY23.
May 23, 2023 | 1:17 pm
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NEGATIVE IMPACT
Jumia Technologies' Q1 FY23 revenue missed expectations, with declines in orders and active consumers. Cost reduction initiatives helped reduce losses.
Jumia Technologies' Q1 FY23 revenue missed consensus estimates, and the company experienced declines in orders and active consumers. Although cost reduction initiatives helped reduce losses, the overall negative performance is likely to have a short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100