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Earnings To Watch: Farfetch (FTCH) Reports Q3 Results Tomorrow

Published 11/28/2023, 02:00 AM
Updated 11/28/2023, 06:01 AM
Earnings To Watch: Farfetch (FTCH) Reports Q3 Results Tomorrow

Online luxury marketplace Farfetch (NYSE: NYSE:FTCH) will be reporting earnings tomorrow morning. Here's what to expect.

Last quarter Farfetch reported revenues of $572.1 million, down 1.3% year on year, missing analyst expectations by 12.1%. It was a weak quarter for the company, with slow revenue growth and a miss of analysts' revenue estimates. The company reported 4.13 million active buyers, up 7.5% year on year.

Is Farfetch buy or sell heading into the earnings? Find out by reading the original article on StockStory.

This quarter analysts are expecting Farfetch's revenue to grow 4.4% year on year to $619.2 million, improving on the 1.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.20 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.

Looking at Farfetch's peers in the online marketplace segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. LegalZoom delivered top-line growth of 8.3% year on year, beating analyst estimates by 4.6% and Etsy (NASDAQ:ETSY) reported revenues up 7% year on year, exceeding estimates by 0.9%. LegalZoom traded up 10.8% on the results, Etsy was down 9.6%.

Read the full analysis of LegalZoom's and Etsy's results on StockStory.

There has been positive sentiment among investors in the online marketplace segment, with the stocks up on average 20.2% over the last month. Farfetch is up 16.9% during the same time, and is heading into the earnings with analyst price target of $4.9, compared to share price of $1.7.

The author has no position in any of the stocks mentioned.

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