March 11 (Reuters) – 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% in extended trading.
California-based Poshmark forecast first-quarter revenue between $75.5 million sweaters and cardigans $77.5 million, implying a growth of 32% to 36% from a year earlier.
Analysts were expecting revenue of $79.2 million.
Net revenue jumped about 27% to $69.3 million in the quarter ended Dec. 31, compared with estimates of $68 million, according to IBES data from Refinitiv. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)
