Farfetch Announces First Quarter 2020 Results
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Farfetch Limited (FTCH) Tops Q1 EPS by 9c, Revenues Miss
May 14, 2020 4:05 PM EDTFarfetch Limited (NYSE: FTCH) reported Q1 EPS of ($0.24), $0.09 better than the analyst estimate of ($0.33). Revenue for the quarter came in at $301.15 million versus the consensus estimate of $313.95 million.
Results demonstrate strength of platform model within the luxury industry; continued market share gainsWell-capitalized to continue on path to Adjusted EBITDA profitability targeted for full year 2021Q1 2020 Gross Merchandise Value up 46% year-over-year; Digital Platform GMV up 19% year-over-year (20% on constant currency basis)$107 million Brand Platform GMV in Q1 2020 on continued strength of New Guards brand portfolioQ1 2020 Revenue increased 90% year-over-year to $331 millionQ1 2020 Loss... More