Vipshop Holdings (VIPS) Tops Q3 EPS by 1c
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Vipshop Holdings (NYSE: VIPS) reported Q3 EPS of $0.15, $0.01 better than the analyst estimate of $0.14. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.8 billion.
For the fourth quarter of 2016, the Company expects its total net revenue to be between RMB18.0 billion and RMB18.5 billion, representing a year-over-year growth rate of approximately 30% to 33%. These forecasts reflect the Company's current and preliminary view on the market and operational conditions, which is subject to change.
"We are pleased to have delivered solid financial results and healthy customer growth despite a seasonally soft quarter for retail," said Mr. Eric Shen, chairman and chief executive officer of Vipshop, "As a leading online discount retailer for brands in China, we are committed to advancing the end-to-end shopping experience on our platform by providing our customers with diverse products and more personalized merchandising. The superior user experience across our platform led to improved user stickiness, as demonstrated by the strong 49% year-over-year increase in repeat customers to 16.7 million. Despite macro weakness, our robust customer growth and retention is a testament to the resilience of our business model. We are confident that our strong foundation will continue to drive our overall secular business growth and enable us to maintain our market leadership regardless of macro environment changes."
Mr. Donghao Yang, chief financial officer of Vipshop, further commented, "In the third quarter of 2016, we continued to deliver strong growth in revenues, active customers and total orders. Importantly, we were able to achieve solid top-line growth and market share gain while maintaining stable margins. In addition, we continue to expand our Internet finance business which is increasingly beneficial to our core retail business and will further strengthen our overall ecosystem. By balancing revenue and profitability, we aim to continue to expand our user base and gain additional market share from China's highly fragmented discount retail market."
For earnings history and earnings-related data on Vipshop Holdings (VIPS) click here.
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