2024 Q2: Jumia revenue drops 17% to $36.5m, missing estimates by 19%; stock falls 49.8%.
Jumia Technologies AG's Q2 2024 results showed a 17% drop in revenue to $36.5m compared to the same period in 2023, missing analyst estimates by 19.09%. Marketplace revenue decreased by 10%, and first-party sales revenue dropped by 24%. Despite this, the company reported a 7% year-over-year increase in orders and improved cash efficiency. Jumia's stock fell 49.8% following the report, with shares currently trading at $5.32.
August 06, 2024
7 Articles