Farfetch Limited (NYSE:FTCH) is expected to report a strong rise in second-quarter revenues when it reports back for the second quarter after the market close on Thursday, August 17.
However, while losses at the online fashion marketplace are expected to match those of a year ago, it is expected to repeat that it is on track to return to profitability and positive free cash flow.
According to Zacks Consensus Estimate, revenues for the three months to June 30, 2023, are expected to be 13.4% higher at $657 million. The company is expected to post a quarterly loss of $0.21 per share, unchanged from the year-ago quarter.
Still, analysts are bullish on the company and its potential to disrupt the luxury fashion industry as Millennials and Gen Z consumers become a higher percentage of consumers.
The stock has an overall ‘Buy’ rating from the 14 analyst firms making recommendations, according to Nasdaq Analyst Research.
Based on analysts offering 12-month price targets for Farfetch in the last three months, the average price target is $9.57.
Ahead of its results, Farfetch’s shares were down 1.7% at $4.76 shortly after midday on Wednesday.
Contact the author at stephen.gunnion@proactiveinvestors.com