Categories AlphaGraphs, Earnings, Retail, Technology
Vipshop Holdings (VIPS) beats in Q2 as active customers grow 11%
Chinese online discount retailer Vipshop Holdings (NYSE: VIPS) reported second-quarter results that surpassed analysts’ estimates. Adjusted net income for the quarter came in at RMB 1.58 ($0.23) per ADS, higher than the analysts estimate of 15 cents per share.
Revenues improved by 9.7% to RMB 22.7 billion ($3.3 billion), primarily driven by the growth in the number of total active customers. Analysts were expecting just $3.07 billion.
VIPS shares jumped 10% immediately following the announcement. The stock has gained 16% in the year-to-date period.
Gross merchandise volume grew by 11% to RMB 35.1 billion in Q2, while the number of active customers increased 11% to 33.1 million. Total orders surged to 147.8 million from 111.3 million in the prior-year period.
CEO CEO Eric Shen said, “Since we refocused on discount apparel and our profitability, we have seen substantial improvement in our financial results and key operating metrics, proving our strategy is very effective.”
Gross margin for the second quarter of 2019 increased to 22.4% from 19.5% in the prior-year period.
For the third quarter of 2019, the company expects its total net revenue to be between RMB 17.8 billion and RMB 18.7 billion, representing a year-over-year growth rate of approximately 0-5%.
Most Popular
Key metrics from Shopify’s (SHOP) Q1 2024 earnings results
Shopify Inc. (NYSE: SHOP) reported first quarter 2024 earnings results today. Revenue increased 23% to $1.9 billion compared to the prior-year period. Gross Merchandise Volume (GMV) increased 23% year-over-year to
EA Earnings: Electronic Arts reports lower revenues for Q4 2024
Video game publisher Electronic Arts (NASDAQ: EA) Tuesday reported a decline in revenues for the fourth quarter of 2024. Meanwhile, the top line came in slightly above analysts' estimates. Fourth-quarter
What to look for when Home Depot (HD) reports Q1 2024 earnings
Shares of The Home Depot (NYSE: HD) stayed red on Tuesday. The stock has gained 17% over the past 12 months. The home improvement retailer is scheduled to report its