After years of losses, African e-commerce giant Jumia claimed significant progress towards profitability in its Q4 2020. Backing that claim, Jumia reported record gross profit and some improvements to its cost structure. The company wrote in its earnings release that while “2020 has been a challenging year operationally with COVID-19 related supply and logistics disruption,” it had also proven “transformative” for its business model. Let’s examine its financial results to see how Jumia fared during the pandemic year and see if we can see the same path to profitability discussed in its written remarks. The results Jumia’s core metrics were uneven in 2020.

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BING NEWS:
  • Peacock Quarterly Loss Narrows to $639M as Streamer Hits 34M Subscribers
    Peacock, the streaming service of Comcast's entertainment unit NBCUniversal, grew its first-quarter revenue and narrowed its loss to $639 million from $704 million in the year-ago period, and $825 ...
    04/25/2024 - 12:06 am | View Link
  • Goldman Narrows Losses in Main Street Unit
    Strong performance in bread-and-butter businesses like investment banking helped Goldman Sachs's earnings beat forecasts. Another key reason? Scaling back its loss-making consum ...
    04/15/2024 - 9:53 am | View Link
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