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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Latest stubborn U.S. inflation reading will bring about more 'wait and see' from the Fed

Why Farfetch Stock Was Tumbling Today

Jeremy Bowman, The Motley Fool
·2 min read
Why Farfetch Stock Was Tumbling Today

Shares of Farfetch (NYSE: FTCH) were taking a dive today after the luxury e-commerce fashion platform posted disappointing third-quarter earnings results and cut its guidance. Farfetch said revenue increased 1.9% in the quarter, or 14.1% in constant currency, to $593.4 million, which was short of estimates at $596.6 million. Gross merchandise volume (GMV), a measure of the dollar value of goods sold on the platform, was down 4.9%, or up 4.2% in constant currency, to $967.4 million.

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