Farfetch shares rise in early trading after revenue beats expectations

Farfetch Ltd. FTCH, +7.48% shares rose 1.2% in early Friday trading after reporting third-quarter sales that beat expectations. This is Farfetch’s first earnings announcement after going public. Farfetch is a luxury fashion marketplace. The company reported a loss of $77.3 million, or 30 cents per share, after a loss of $28.2 million, or 12 cents per share, last year. Revenue totaled $132.2 million, up from $86.9 million last year. Earnings missed the FactSet EPS consensus for an 18-cents loss, but revenue beat the $118.0 million guidance. Farfetch reported 854,700 active shoppers, down from 1.2 million last year. But average order value increased to $605.20 from $584.60 in 2017. Farfetch shares have gained 4.7% over the past month, while the S&P 500 index SPX, -0.74% is down 3.3% for the period.

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