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Feb. 25, 2021, 5:18 p.m. EST

Farfetch stock drops as better-than-expected results follow 500% price surge

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By Wallace Witkowski

FTCH

Farfetch Ltd. /zigman2/quotes/203824836/composite FTCH -1.12% shares fell in the extended session Thursday as the luxury retailer reported quarterly earnings following a huge run-up in share price from a year ago. Farfetch shares dropped 10% after hours, following a 4.2% decline to close the regular session at $63.81. Farfetch shares have soared more than 500% over the past 12 months. The company reported a fourth-quarter loss of $2.28 billion, or $6.53 a share, compared with a loss of $110.1 million, or 34 cents a share in the year-ago period. Excluding a $1.89 billion loss on “embedded derivate liabilities” because of the company’s increase in share price and other items, the company reported an adjusted loss of 6 cents compared with a loss of 8 cents a share in the year-ago quarter. Revenue rose to $540.1 million from $382.2 million in the year-ago period. Analysts surveyed by Factset had expected an adjusted loss of 13 cents a share on revenue of $518.1 million.

/zigman2/quotes/203824836/composite
US : U.S.: NYSE
$ 51.17
-0.58 -1.12%
Volume: 5.42M
April 9, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$18.15 billion
Rev. per Employee
$307,650
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