Dull Poshmark Revenue Forecast Sends Shares Down - SolidRumor.com

Dull Poshmark Revenue Forecast Sends Shares Down

 Dull Poshmark Revenue Forecast Sends Shares Down

Poshmark’s new feature, Stories. | Photo: Courtesy

Online fashion marketplace Poshmark Inc on Thursday forecast first-quarter revenue below expectations despite beating market estimates for holiday-quarter revenue, sending its shares down 16 percent in extended trading.

California-based Poshmark forecast first-quarter revenue between $75.5 million and $77.5 million, implying a growth of 32 percent to 36 percent from a year earlier. Analysts were expecting revenue of $79.2 billion.

Net revenue jumped about 27 percent to $69.3 million in the quarter ended Dec. 31, compared with estimates of $68 million, according to IBES data from Refinitiv.

By Praveen Paramasivam

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