FARFETCH LIMITED Reports Q2 Earnings Results for FY2023 on August 17th
August 24, 2023
🌧️Earnings Overview
On August 17 2023, FARFETCH LIMITED ($NYSE:FTCH) reported their FY2023 Q2 financial results as of June 30 2023. Total revenue for the quarter was USD 572.1 million, reflecting a 1.3% decrease in comparison to the same period last year. Their net income decreased from USD 70.5 million to USD -271.9 million year over year.
Share Price
FARFETCH LIMITED stocks opened the day at $4.8 and closed at the same price, down by 1.7% from the previous closing price of $4.8. The company’s performance in the past quarter was overall lower than expected, as its sales and profits both decreased. Overall, FARFETCH LIMITED’s performance in the second quarter was below expectations.
The company’s stock reflects this sentiment, as it closed on August 17th at the same price it opened at. The company is expected to take steps to improve their financial performance in the upcoming quarters, as they look to regain their lost revenue and profits. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Farfetch Limited. More…
| Total Revenues | Net Income | Net Margin |
| 2.35k | -889.32 | -33.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Farfetch Limited. More…
| Operations | Investing | Financing |
| -247.49 | -100.11 | 224.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Farfetch Limited. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.5k | 2.89k | 1.16 |
Key Ratios Snapshot
Some of the financial key ratios for Farfetch Limited are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.8% | – | -35.9% |
| FCF Margin | ROE | ROA |
| -18.7% | -95.1% | -15.1% |
Analysis
At GoodWhale, we have conducted a comprehensive analysis of FARFETCH LIMITED‘s financial and business fundamentals. After our analysis, we have given FARFETCH LIMITED a high-risk rating. This high-risk designation is based on the four risk warnings we have detected in the company’s income sheet, balance sheet, cashflow statement, and financial journal. We encourage all interested investors to become registered users in order to view the full analysis and risk warnings that we have uncovered. As an added bonus, registered users may also benefit from the additional insights, data and resources that come with being a part of the GoodWhale family. We are confident that our analysis and resources will help investors make the right decision when it comes to investing in FARFETCH LIMITED. More…
Peers
Farfetch Ltd is an online fashion retail platform that sells products from over 700 boutiques and brands from around the world. Jeffs Brands Ltd, PSH Group Holdings Inc, and Pinduoduo Inc are all online fashion retail platforms that compete with Farfetch Ltd.
– Jeffs Brands Ltd ($NASDAQ:JFBR)
Jeffs Brands Ltd is a publicly traded company with a market capitalization of 15.91 million as of 2022. The company has a Return on Equity of -103.49%. The company operates in the food and beverage industry and is engaged in the manufacture and sale of branded food products. The company’s products include soups, sauces, snacks, and other food items. The company has a portfolio of brands including Jeff’s, Old El Paso, and Ortega. The company sells its products through a network of distributors and retailers in the United States, Canada, and Mexico.
– PSH Group Holdings Inc ($OTCPK:GLHD)
Pinduoduo Inc is a Chinese e-commerce platform that offers a variety of services, including online retail and group buying. As of 2022, its market cap is 84.41B and its ROE is 18.22%. Pinduoduo is one of the largest e-commerce platforms in China and is growing rapidly. It offers a unique mix of online and offline services, including group buying, that has proved popular with Chinese consumers.
Summary
FARFETCH LIMITED reported their FY2023 Q2 earnings results with total revenue for the quarter decreasing by 1.3% year over year to USD 572.1 million. Net income was reported to be a loss of USD 271.9 million, a decrease of USD 70.5 million from the previous year. The company’s share price has dropped significantly since the announcement, leaving investors questioning the viability of investing in FARFETCH LIMITED. Analysts suggest that investors should evaluate current company performance, future growth prospects, and any potential catalysts in order to make informed investing decisions.
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