Farfetch Limited (FTCH) Stock Plunges 23% Following Q3 Results

Farfetch Limited (NYSE: FTCH) shares dropped more than 23% after-hours following the company’s reported Q3 results, with EPS coming in at ($0.17), better than the consensus estimate of ($0.36). Quarterly revenue grew 33% year-over-year to $583 million, compared to the consensus estimate of $591.34 million.

GMV increased by 27.5% year-over-year to $1,017.3 million. While GMV growth accelerated on a two-year basis (97%), it increased at a lower rate than H1/21. Digital Platform GMV increased by 22.9% year-over-year to $828.5 million.

The company expects Q4 Digital Platform GMV and Brand Platform GMV growth of 18-22% and 20-25%, respectively. For the full 2021-year, the company anticipates Digital Platform GMV growth of around 33% year-over-year.

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