Jumia, Africa’s largest e-commerce company’s third-quarter (Q3) financial report has revealed that it gained 636,000 new customers and incurred an operating loss of $55 million.
Since its listing on the New York Stock Exchange, Jumia’s recent stats revealed that its active customers have grown to 5.5 million from the 3.5 million that was recorded in 2018.
The report revealed that Jumia experienced its biggest single-quarter growth as about 7 million orders were processed in the third quarter. This is way higher than the 3.6 million recorded last year.
The Q3 report also revealed that the items they sold within the period grew by 38.7%. However, its GMV stood at $303.3 million as against the $310.5 million it recorded in Q2 2019.
See Also: Jumia discovers Improper Sales Practices inside its Nigerian SalesForce
Jumia’s revenue also grew to $44.2 million from $37.1 million in Q3 2018. This makes the company’s 2019 profit reach $122.3 million.
However, Jumia recorded an operational loss of $55 million as against $45 million recorded in Q3 2018. This totals its 2019 loss to $180.1 million against $129.2 million operation loss of Q3 2018.
Jumia’s fintech arm JumiaPay recorded the biggest growth, according to the Q3 report. JumiaPay processed about 2.1 million transactions totaling $35.3 million. The numbers secured is equivalent to 11.6% of Jumia’s entire GMV in Q3 2019.
The report also revealed that the employees involved in its previous fraudulent saga have been laid off.
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