Farfetch Limited (NYSE:FTCH) reported its Q1 earnings results last week, with EPS coming in at ($0.24), better than the Street estimate of ($0.28). Revenue came in at $514.8 million, compared to the Street estimate of $560.3 million.
The company expects full 2022-year digital Platform GMV growth in the range of 5% to 10% year-over-year and Brand Platform GMV growth in the range of 10% to 15% year-over-year.
Digital GMV guidance was significantly lower than 30% prior on headwinds from zero-COVID China, Russia and management’s plan to reduce opex on the lowered revenue expectations.