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Jumia Technologies AG (NYSE:JMIA) shares are trading higher Tuesday after the company reported strong first-quarter revenue results.
The Details:
Jumia Technologies reported first-quarter revenue of $49 million, up 19% year-over-year, and gross merchandise value of $181 million, up 5% year-over-year.
Marketplace revenue, comprised of commissions, fulfillment revenue, value added services and marketing and advertising revenue was $25.9 million, up 11% year-over-year, driven by higher commissions and corporate sales, partially offset by the impact of foreign exchange.
First-party sales revenue was $22.4 million, up 29% year-over-year, driven by sales of larger ticket items, such as electronics and home and living items, partially offset by the impact of foreign exchange.
“Jumia is off to a strong start to the year. Following a transformational 2023, we continued to execute against our strategic priorities focused on strengthening our core business and improving cash efficiency while establishing a leaner organization primed for growth. Our efforts drove a 5% year-over-year and 39% constant-currency improvement in GMV in the quarter, while order growth and AOV also expanded, a clear sign that our strategy is working," said Jumia CEO, Francis Dufay.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Jumia Technologies' case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
JMIA Price Action: According to Benzinga Pro, Jumia Technologies shares are up 23.4% at $6.74 at the time of publication Tuesday.
Image: Gerd Altmann from Pixabay
Posted In: JMIA
