Why Jumia Technologies Stock Popped Today
Shares of Jumia Technologies (NYSE: JMIA) have popped today, up by 10% as of noon EST, after the company reported fourth-quarter earnings. Revenue beat expectations and the African e-commerce specialist is marching toward profitability.
Revenue in the fourth quarter came in at 49.3 million euros ($53.7 million), which was ahead of the $49.3 million in sales that analysts were expecting. Annual active consumers jumped 54% to a record 6.1 million, while orders increased 49% to 8.3 million. Adjusted gross merchandise volume (GMV) grew 6% to 275 million euros ($300 million). Jumia's net loss was 63.6 million euros ($69.3 million).
Image source: Jumia.
Source Fool.com
