Jumia, one of Africa’s largest e-commerce companies, has gained 44% in the past month following results that have impressed investors, according to Nairametrics. Jumia’s earnings per share beat $0.70 while its revenue of $47.65 million (43.27% Y/Y) beat $233,050,000.
Investors typically reward stocks with share price appreciation when they exceed earnings expectations. Despite the gains, Jumia is still below the beloved unicorn status following the stock market rout that has ravaged tech stocks. Jumia is currently valued at around $778 million down from its historic valuation of around $5.8 billion made in February 2021.
Jumia shares are down 32% despite rising 44% last month. Jumia recently released its first quarter 2022 results reporting a lower than expected loss while informing investors that there is momentum for user and revenue growth.
