Farfetch (NYSE:FTCH) earnings for the fashion retailer’s third quarter of 2019 have FTCH stock heading higher on Friday. That’s thanks to its diluted losses per share of -28 cents. This is much better than Wall Street’s estimate of -37 cents for the quarter. Revenue of $255.48 million is also above analysts’ estimates of $255.40 million.
Let’s see what else changed in the Q3 Farfetch earnings report.
- Diluted per-share losses are 6.67% better than the -30 cents in Q3 2018.
- Revenue comes in 89.89% higher YoY than $134.54 million.
- An operating loss of -$79.90 million is 4.02% worse than -$76.81 million from the same time last year.
- The Farfetch earnings report also includes a net loss of -$85.46 million.
- This is 10.61% wider than the company’s net loss of -$77.26 million in the same period of the year prior.
Elliot Jordan, CFO of Farfetch, says this about the most recent FTCH stock earnings.
“Our third quarter 2019 results demonstrate focused execution against our core strategy, which resulted in strong digital platform GMV growth of 37% year-over-year, extending our market leading position, balanced with Order Contribution Margin increasing quarter-over-quarter to 31.3%.”
The Farfetch earnings also include an outlook for the fourth quarter of 2019. FTCH is expecting strong results with Digital Platform GMV growth of 30% to 35% YoY. It is also looking for Brand Platform GMV of $80 million to $90 million.
FTCH stock finished the day up 29.28% on Friday. However, the stock is down 56.91% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.