Why Jumia (JMIA) Shares Are Trading Higher Today - Jumia Technologies (NYSE:JMIA)

Jumia Technologies AG JMIA reported second-quarter FY22 revenue growth of 42.5% year-on-year to $57.3 million.
Orders increased by 35% Y/Y to 10.3 million, and active consumers rose 24.9% to 3.4 million.
Total payment volume (TPV) increased 31% to $74.2 million. The gross merchandise value (GMV) rose 21.3% Y/Y to $271.1 million.
Gross profit rose 13.6% Y/Y to $30.4 million. The operating loss widened to $(67.7) million.
The company held $53.8 million in cash and equivalents and used $(58.3) million in operating cash flow.
Adjusted EBITDA loss widened sharply to $(57.2) million.
Outlook: Jumia reiterated FY22 adjusted EBITDA loss forecast of $(200) million - $(220) million.
For the full year of 2023, it expects adjusted EBITDA loss to be lower than for the full year of 2022.
JMIA cut its capex guidance for the full year 2022 from $15 million - $25 million to $10 million - $15 million.
Price Action: JMIA shares traded higher by 11.99% at $7.75 in the premarket session on the last check Wednesday.

Here's Why Jumia Shares Are Trading Higher Premarket