Shares of Jumia Technologies fell 2.2% in pre-market trading after reporting disappointing 4Q revenues. The online marketplace targeting African countries reported revenues for the quarter of €41.8 million, a decline of 15.3% year-on-year, that fell short of consensus estimates of €45 million. Operating losses for the quarter improved 35% year-on-year to €40 million from €61.1 million in the year-ago quarter. Jumia’s (JMIA) Co-CEOs Jeremy Hodara and Sacha Poignonnec commented, “We continued to make significant strides towards breakeven during the fourth quarter of 2020. Gross Profit after Fulfillment expense reached a record €8.4 million during the quarter.
https://www.tipranks.com/news/jumia-4q-revenues-miss-estimates-losses-narrow-to-e40m