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Jumia shares rise as the company’s e-commerce business revs up in Q2

TechCrunch LogoTechCrunch3 mo ago

Jumia shares rise as the company’s e-commerce business revs up in Q2 - TechCrunch

Quick Summary:

African e-commerce giant Jumia reported its second-quarter financial performance today.

In the wake of its financial reporting this morning, Jumia’s shares climbed sharply, gaining more than 15% in early trading to $8.12 per share and bumping slightly to $8.30 per share at the time of publication.  What drove its stock higher?

Similarly, Jumia saw an improvement in its quarterly purchase frequency, reaching 3.1 orders per user in Q2 2022 (an all-time high) compared to 2.8 in Q2 2021. “People are seeing inflation and facing price increases.


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Author / Journalist: Tage Kene-Okafor

Category: Technology

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Article Type: News Report

Published On: 2022-08-10 @ 19:06:15 (3 months ago)

News Timezone: GMT -5:00

Ranking: #239 (out of 3201 stories this day)

News Source URL: techcrunch.com

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Reading Time: 5 minutes read

Sentences: 33 lines

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Copyright Owner: © TechCrunch

News ID: 128242

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