Jumia Technologies News: Why Is JMIA Stock Plunging Today?
JMIAJumia(JMIA) Investor Place·2024-08-07 00:01

Jumia Technologies (NYSE:JMIA) stock is taking a beating on Tuesday after the African e-commerce company posted earnings results from its second quarter of 2024.That Jumia Technologies earnings report starts off badly with its revenue of 36.5million.ThatsbelowWallStreetsestimateof36.5 million. That’s below Wall Street’s estimate of 41.7 million for the quarter. This is down 17.2% year-over-year from 44million.JumiaTechnologiesnotesthatthiscomesfromitsmarketplacerevenuedropping1044 million.Jumia Technologies notes that this comes from its marketplace revenue dropping 10% from Q2 2023 to 20 million. It also saw First-Party sa ...