Jumia Technologies Stock Surges 24% on Strong Q1 Growth
Shares of Jumia Technologies (NYSE: JMIA) rose by 24% this week following strong first-quarter growth in revenue and key metrics. The African e-commerce company reported a 39% year-over-year increase in revenue to $50.6 million, driven by higher marketplace spending and customer activity. However, the firm remains unprofitable with an operating loss of $13.9 million for Q1.
Tickers: $JMIA
Topics: Africa e-commerce growth profitability