Newegg's revenue in the first half of 2024 was US$618 million, a year-on-year decrease of 14.5%.

It is learned that the US e-commerce platform Newegg recently announced its financial report for the first half of 2024. As of June 30, Newegg's revenue in the first half of the year fell 14.5% year-on-year to US$618.1 million.

The following is a summary of Newegg's first half financial results:

Revenue was $618.1 million, down 14.5% year-over-year

GMV was US$746.7 million, down 15.4% year-on-year

Gross profit was $63.1 million, down 22.4% year-on-year

Net loss was $25 million, compared with $29.3 million in the same period last year

Adjusted EBITDA was -$7.3 million, compared to -$10.3 million in the same period last year

Newegg CEO Anthony Chow said computer hardware sales slowed in the first half of this year due to ongoing macroeconomic challenges and a lack of new product launches. Newegg had 1.1 million active customers in the six months ended June 30 , down from 1.3 million in the same period last year, and a repeat purchase rate of 23%, compared with 27.9% in the same period last year.

As consumers begin to upgrade the devices they purchased during the pandemic, Newegg expects sales to rebound in the second half of the year. In the second half of this year, Newegg plans to meet demand by expanding product offerings, establishing strategic partnerships, and diversifying its product portfolio. In addition, Newegg plans to expand mainstream PC products to accelerate growth, especially targeting college students by establishing strategic partnerships with AMD and Intel.

Author ✎ Rayna/

Statement: This article is copyrighted and may not be reproduced without permission. If you need authorization, please contact: happy