Shares of Farfetch FTCH were unchanged in after-market trading after the company reported Q2 results.
Earnings per share were down 33.33% year over year to ($0.20), which beat the estimate of ($0.35).
Revenue of $364,680,000 higher by 74.27% year over year, which beat the estimate of $326,920,000.
For Third Quarter 2020:
- Digital Platform GMV of $588 million to $609 million, representing growth of 40% to 45% year-over-year
- Brand Platform GMV of $90 million to $95 million
- Adjusted EBITDA of $(20) million to $(25) million
How To Listen To The Conference Call
Date: Aug 13, 2020
Time: 04:30 PM
ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fwww.farfetchinvestors.com%2Fevents-and-presentations%2Fevents%2Fdefault.aspx&eventid=2395238&sessionid=1&key=79D76FF2C32870FEAA2D993F0A672B86®Tag=&sourcepage=register
Recent Stock Performance
52-week high: $28.25
52-week low: $5.99
Price action over last quarter: Up 93.19%
Farfetch is an online platform connecting sellers and buyers of personal luxury goods. It was founded in 2008. The company partners with around 1,000 luxury goods sellers to offer their inventory on the platform. For making the retailers' stock available to almost a million active customers, the company charges a cut of over 30% (third-party take rate). Geographically, Europe, Middle East, and Africa account for 40% of the company's sales, Asia-Pacific for 31%, and Americas for 29%. Of total revenue, 81% is generated through platform services, 16% through fulfillment revenue, and 3% through in-store revenue of Browns, a U.K.-based luxury retailer acquired in 2015.
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