Farfetch Limited (FTCH) Tops Q4 EPS by 7c

Farfetch Limited (NYSE: FTCH) reported Q4 EPS of ($0.03), $0.07 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $195.5 million versus the consensus estimate of $180.31 million.

"By all measures, 2018 was a blockbuster year for Farfetch,” said José Neves, Farfetch Founder, CEO and Co-Chair. "We continued to lead the online personal luxury goods market, growing GMV 55% for the year – more than twice as fast as the industry."

"We also exited our first decade as a company with an incredible foundation for realizing our platform vision globally, including in China, with the announced acquisition of Toplife solidifying Farfetch as the Premier Luxury Gateway to China."

"Over the next ten years, the luxury industry is expected to grow to an estimated $500 billion, and online sales will potentially grow to represent an incremental $100 billion opportunity. Farfetch is uniquely positioned to capture the lion\'s share of this opportunity."

Elliot Jordan, CFO of Farfetch said, "I am thrilled with our record GMV performance and the growth of Farfetch during 2018, which exceeded expectations. Our increasing scale has enabled us to leverage our efficiencies and lean into our customer proposition with new initiatives such as our Access loyalty program, to boost the lifetime value of our customers and enhance long-term shareholder value."

For earnings history and earnings-related data on Farfetch Limited (FTCH) click here.

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