REDWOOD CITY, Calif. (AP) _ Poshmark Inc. (POSH) on Wednesday reported a loss of $74.5 million in its first quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of $1.19. Losses, adjusted for non-recurring costs, came to 33 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 41 cents per share.
The online marketplace for second-hand goods posted revenue of $81 million in the period.
For the current quarter ending in July, Poshmark said it expects revenue in the range of $79 million to $81 million.
The Associated Press