Farfetch Higher on Q1 2023 Results

(24/7 MARKET NEWS) – Farfetch Limited (NASDAQ: FTCH) reported its first quarter financial results after yesterday’s market close. The better-than-expected results included revenues of $556.4 million, an increase of 8% year-over-year, easily outpacing the $512.72 million consensus estimates, as well as a reported EPS loss of $0.16, easily beating the analysts’ $0.42 loss expectation.

Farfetch is trading at $5.14, up $0.80 (+18.43%), on 3M premarket shares traded.

Its 52-week range is $0.55 to $1.86. Its premarket high is $5.47 and, if it can remain above $5 and the trading volume increases, it has a pathway back to the $8 range, but that’s probably not happening today.

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