Jumia Technologies AG - ADR JMIA shares are trading higher by 4.43% to $4.95 Thursday morning after the company reported third-quarter sales results up from last year.
What Happened?
Jumia reported $50.50 million in sales this quarter. This represents an 18% increase over sales of $42.66 million in the same period last year. Additionally, the company expects FY22 adjusted EBITDA loss as low as $200 million or as high as $220 million.
Jumia says gross profit reached $33.0 million in the third quarter of 2022, up 29% year-over-year, the fastest growth rate in the past 9 quarters, supported by the marketplace revenue growth.
Jumia added that, on a constant currency basis, gross profit was up 43% year-over-year. Gross profit margin as a percentage of GMV reached an all-time high of 13.7%, partly as a result of the implementation of commission take-rate increases.
According to data from Benzinga Pro, JMIA has a 52-week high of $18.00 and a 52-week low of $3.65.
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