Farfetch Limited (NYSE:FTCH) shares surged more than 17% after-hours following the company’s reported Q1 results. EPS of ($0.16) came in better than the consensus estimate of ($0.39). Revenue increased 8.1% year-over-year to $556.4 million, beating the consensus estimate of $515.51M. Q1 gross merchandise value (GMV) grew 0.1% year-over-year to $931.7M. The company provided its full 2023 year outlook, expecting group GMV of approximately $4.9B, and an adjusted EBITDA margin of 1%-3%. CEO José Neves commented on the strength and resilience of the company’s core business. Investors responded positively to the news, pushing the stock up 17%.
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