E-commerce company, Jumia, has announced that it generated $50.5m in revenue in Q3 2022.
The company made this known during its Q3 2022 earnings call on Tuesday. According to Jumia the $50.5m is an increase of six percent from the $47.6m reported in Q2. This also represents an 18.4 percent increase from the $42.7m reported in the same period last year.
Jumia’s acting CEO, Francis Dufay, speaking on the new business strategy for the company stated that the recent focus on cost discipline and return on investment speaks to an ever-increasing need to make the company profitable in the near future.
“Results for Q3 showed more encouraging signs that the company is on the right path,” he said.
He further added that the company intends to bring more focus to the core business, allocating capital, resources and teams to main areas and projects with attractive returns on investments and clear ecosystem benefits, adding that it would cease projects and ventures that do not meet such criteria.