Why Farfetch Stock Soared 26% on Friday?

Motley Fool2022-08-27

What happenedShares of Farfetch surged 26% on Friday after the luxury fashion platform reported second-quarter financial results that were better than many investors expected.So whatFarfetch's revenue...

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Comments

jannn
2022-08-28
jannn
[smile]
PrincessLow
2022-08-28
PrincessLow
Ok
T202311701
2022-08-28
T202311701
O
frusty
2022-08-28
frusty
Ok
Goupppppppp
2022-08-28
Goupppppppp
Noted
andy1967
2022-08-27
andy1967
Wow making a loss and yet share price shoot up 25%. Amazing!!!

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Excluding the negative impact of foreign exchange fluctuations, the e-commerce company's sales jumped 20.7%.That topped Wall Street's forecast. Analysts had projected revenue of $561.1 million.\"We are navigating a volatile macro environment adeptly, continuing to post growth compounding on what has been a tremendous 3-year run for Farfetch, a period that saw our business double as measured by our GMV,\" founder and CEO Neves said in a press release.GMV, or gross merchandise volume, is the total dollar value of sales facilitated by Farfetch's platform. Its GMV inched up 1.3% in the second quarter -- and 7.6% at constant currency rates -- to $1 billion.Farfetch's digital platform GMV growth was dented by the suspension of operations in Russia and coronavirus-related closures in China. 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