Vipshop stock got a boost on Thursday following the release of its earnings report for the third quarter of 2018.
Vipshop (NYSE:VIPS) reported earnings per share of 11 cents for the third quarter of the year. This is down from the company’s earnings per share of 13 cents from the same period of the year prior. However, it was still good news for Vipshop stock by beating out Wall Street’s earnings per share estimate of 9 cents for the quarter.
Net income reported by Vipshop for the third quarter of 2018 came in at $32.59 million. This is a drop from the company’s net income of $45.89 million reported in the third quarter of 2017.
During the third quarter of the year, Vipshop reported income from operations of $51.12 million. The online retail company’s net income from the same time last year was $64.59 million.
Vipshop also reported revenue of $2.57 billion for the third quarter of 2018. This an increase over the company’s revenue of $2.21 billion reported in the third quarter of the previous year. It was also a blessing to Vipshop stock by coming in above analysts’ revenue estimate of $2.51 billion for the period.
Vipshop’s most recent earnings report also sees the company providing guidance for the next quarter in 2018. The company says that it is expecting revenue for the fourth quarter of the year to range from $3.76 billion to $3.93 billion. Wall Street is expecting the company to report revenue on the high end of that guidance.
VIPS stock was up 4% as of Thursday afternoon, but is down 56% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.