Vipshop Holdings Ltd – ADR (NYSE:VIPS) shares were plummeting late Monday as the company reported its latest quarterly earnings results, which missed expectations.

The e-commerce site reported earnings on an adjusted basis of 17 cents per share, which were below the Wall Street consensus estimate of 18 cents per share. The figure was also below the company’s revenue from the year-ago quarter by 20%, in local currency.

Vipshop Holdings also unveiled its latest revenue for the period, which came in at $3.2 billion, which marked a 24.6% gain in local currency compared to the year-ago period. The Wall Street consensus estimate called for revenue of $3.08 billion.

The company’s gross profit was up by 8.5% compared to the year-ago quarter, while the number of active customers on the sites was 56.6 million, ahead of its year-ago total of 55.5 million. Vipshop Holdings’ total orders gained by 25% year-over-year to 90.2 million from 72.1 million.

The business’ average revenue per customer was up by about 25% on higher orders per customer. For the period, 86% of customers were repeat ones, up from 77% in the year-ago quarter, and 96% of orders were placed by repeat customers, up from 92%.

For its second quarter, Vipshop Holdings is calling for revenue in the range of $3.2 billion to $3.36 billion, which has a midpoint on the lower end of analysts’ expectations of $3.36 billion. That would mark a growth rate in the range of 17% to 22% from the year-ago period.

VIPS stock fell more than 17.1% after the bell Monday after a 0.1% decline during regular trading hours.