Jumia Technologies (JMIA) has released an update.
Jumia Technologies AG has reported a 19% year-over-year increase in revenue to $49 million in the first quarter of 2024, alongside a 39% rise in GMV when adjusted for currency fluctuations. The company also saw a significant reduction in its operating loss, which decreased by 71% to $8 million, and a marked improvement in its adjusted EBITDA loss, down by 83% to $4 million. These results reflect Jumia’s strategic focus on core business strength and cash efficiency, despite challenging economic conditions in its key African markets.
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