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Company Earning Updates 3 minutes

Farfetch (NYSE: FTCH) 1Q19 Results: Strong Growth Driven by Platform GMV

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Coresight Research

Key Points

  • Farfetch 1Q19 revenues grew 38.6% to $174.1 million, beating the $171.1 million consensus estimate, primarily driven by 43.2% growth in platform services revenue to $141.8 million.
  • GMV rose 43.2% to $419.3 million, driven mainly by an increase of 64.3% in active consumers to 1.7 million.
  • The company reported adjusted EPS of $(0.22), missing the $(0.15) consensus estimate but improving from $(0.18) in the year-ago quarter.
  • Guidance for 2019 includes 41% growth in GMV and an adjusted EBITDA margin of (16-17)%, slightly higher than the 4Q18’s outlook of 40% growth in GMV and an adjusted EBITDA margin of (18-19)%.

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