Business
Temple & Webster (ASX:TPW) share price tumbles on third quarter update
The Temple & Webster Group Ltd (ASX: TPW) share price is under pressure on Tuesday morning.
At the time of writing, the furniture and homewares focused ecommerce company’s shares are down 5% to $10.18.
Why is the Temple & Webster share price under pressure?
Investors have been selling the company’s shares this morning following the release of its third quarter update.
According to the release, for the three months ended 31 March, Temple & Webster delivered a 112% increase in revenue over the prior corresponding period.
At the end of the period the company had ~750,000 active customers. This is up 10.6% from 678,000 at the end of the first half.
What about the fourth quarter?
Positively, while the company’s growth has…
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