Jumia's stock drops after losses widen, revenue rises less than expected

Shares of Jumia Technologies AG JMIA, -8.89% dropped 7.3% in premarket trade Monday, after the Africa-based e-commerce company reported its first results as a public company, with losses widening from a year ago and revenue rising less than expected. The net loss for the first quarter to March 31 was 45.4 million euro , after a loss of EUR34.2 million a year ago. The company did not provide per-share figures. Revenue rose 12% to EUR31.8 million, below the FactSet consensus of EUR34.7 million.

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