Vipshop Holdings (NYSE:VIPS) earnings for the Chinese e-commerce company’s second quarter of 2020 have VIPS stock taking a beating on Wednesday. That’s due to its adjusted earnings per share of 1.92 yuan missing Wall Street’s estimate of 1.94 yuan. Its revenue of 24.11 billion yuan comes in above analysts’ estimates of 23.67 billion yuan.
Here’s what else is worth noting from the most recent Vipshop Holdings earnings report.
- Adjusted per-share earnings are up 21.5% from 1.58 yuan in the same period of the year prior.
- Revenue for the quarter comes in 6% higher than the 22.74 billion yuan from the second quarter of 2019.
- Operating income of 1.24 billion yuan is a 28.5% increase year-over-year from 965.36 million yuan.
- The Vipshop Holdings earnings also have net income coming in at 1.54 billion yuan.
- That’s an 88% jump compared to its net income of 817.87 million yuan from the same time last year.
Eric Shen, chairman and CEO of Vipshop Holdings, said this about the earnings results.
“We are delighted to have delivered solid financial and operational results in the second quarter of 2020, driven by our strong merchandising capability. In particular, our number of active customers during the quarter increased by 17% year over year to 38.8 million from 33.1 million in the same period last year.”
Vipshop Holdings provides guidance for the third quarter of 2020 in its earnings report. It expects revenue for the quarter to range from 20.6 billion yuan to 21.6 billion yuan. Unfortunately for VIPS stock, Wall Street is looking for revenue of 21.94 billion yuan during the period.
VIPS stock was down 19.7% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.