Vipshop Holdings (VIPS) Misses Q3 EPS by 4c, Revenues Beat

Vipshop Holdings (NYSE: VIPS) reported Q3 EPS of $0.05, $0.04 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.53 billion.

• Total net revenue for the third quarter of 2018 increased by 16.4% year over year to RMB17.8 billion (US$2.6 billion) from RMB15.3 billion in the prior year period.
• The number of active customers[1] for the third quarter of 2018 increased by 11% year over year to 26.5 million from 23.8 million in the prior year period.
• Total orders[2] for the third quarter of 2018 increased by 29% year over year to 95.7 million from 74.0 million in the prior year period.
• Gross profit for the third quarter of 2018 increased by 3.8% year over year to RMB3.6 billion (US$528.7 million) from RMB3.5 billion in the prior year period.
• Net income attributable to Vipshop\'s shareholders for the third quarter of 2018 was RMB228.7 million (US$33.3 million), as compared with RMB338.1 million in the prior year period.
• Non-GAAP net income attributable to Vipshop\'s shareholders[3] for the third quarter of 2018 was RMB500.8 million (US$72.9 million), as compared with RMB559.8 million in the prior year period.

Mr. Eric Shen, Chairman and Chief Executive Officer of Vipshop, stated, "In the third quarter of 2018, we saw healthy growth in the number of active customers, which increased by over 11% year over year. Further, our average revenue per customer continued to improve year over year, which proves our operational strengths and execution capability. We remain focused on our merchandising strategy, aiming to further deepen our expertise in the field of discount retailing."

Mr. Donghao Yang, Chief Financial Officer of Vipshop, further commented, "During the third quarter, our average revenue per customer increased by 5% year over year, driven by the strong improvement in the number of average orders per customer. We continue to execute on our merchandising strategy, which will create sustainable shareholder value in the long term."

For earnings history and earnings-related data on Vipshop Holdings (VIPS) click here.

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