Stock Track | D-MARKET Electronic Services & Trading Plummets 8.3% as Q3 Loss Widens

Stock Track12-10

D-MARKET Electronic Services & Trading (HEPS) stock plummeted 8.3% in Tuesday's pre-market trading session, following the company's release of its third-quarter 2024 financial results.

The Turkish e-commerce company reported a net loss of 0.96 Turkish lira ($0.028) per diluted share for the quarter ended September 30, wider than the loss of 0.88 Turkish lira a year earlier. Revenue for the quarter increased to 12.24 billion Turkish lira ($364.95 million) from 12.04 billion Turkish lira in the previous year's quarter.

Despite the revenue growth, the widening loss appears to have weighed on investor sentiment. The company provided an outlook for the fourth quarter, guiding for gross merchandise value (GMV) growth within the range of 50% to 55%. However, the market may have expected stronger performance, leading to the stock's decline.

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