Vipshop Holdings Ltd – ADR (NYSE:VIPS) announced its quarterly earnings results after hours Monday, sending shares higher as revenue surged year-over-year.
The Chinese e-commerce operator announced fourth-quarter net revenue of RMB24.1 billion (US$3.7 billion), a 27.1% increase compared to the year-ago total of RMB19.0 billion. For the full-year, net revenue surged 28.8% compared to the year-ago quarter to RMB72.9 billion (US$11.2 billion) from RMB56.6 billion.
Vipshop’s non-GAAP earnings for the quarter came in at RMB888.1 million (US$136.5 million), below the year-ago total of RMB970.3 million. For the full year, this figure was RMB3.0 billion (US$457.3 million), coming in ahead of the year-ago non-GAAP earnings of RMB2.9 billion.
The company also saw an increase in the number of active users for the full year as this figure surged 11% compared to the year-ago quarter to 57.8 million from 52.1 million. Vipshop’s total orders for the fourth quarter went from 82 million to 104.2 million, marking a 27% pop.
For the full year, the website’s total orders gained 24% year-over-year to 335 million from 269.8 million in the year-ago quarter.
“During this quarter, we announced our strategic partnership with Tencent and JD.com, which we believe will contribute meaningfully to our customer growth and market share gain,” said Eric Shen, Chairman and CEO of Vipshop. “In addition, we are delighted to have become the sponsor and exclusive Chinese e-commerce partner for London Fashion Week, further strengthening our leadership in our core categories and solidifying our strong position in the fashion industry.”
VIPS stock soared 10.4% after hours Monday.