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- Online discount retailer Vipshop Holdings Ltd VIPS reported second-quarter FY21 revenue growth of 22.8% year-on-year to $4.6 billion (RMB29.6 billion), versus the analyst consensus of $4.57 billion.
- Amazon.com Inc's AMZN Q2 revenue of $113.1 billion was up 27% Y/Y, missing the consensus of $115.1 billion.
- Alibaba Group Holding Ltd BABA recently reported Q1 FY22 revenue of $31.87 billion, up 34% Y/Y, missing the consensus of $32.54 billion. Alibaba's Commerce revenue grew 35.2% Y/Y to $27.9 billion.
- Drivers: Vipshop's GMV expanded 25% Y/Y to RMB48.1 billion.
- The number of active customers improved by 32% Y/Y to 51.1 million.
- Total orders rose 30% Y/Y to 221.5 million.
- Margins: The gross margin contracted 40 bps to 20.1%.
- The non-GAAP operating margin contracted 30 bps to 5.9%.
- Vipshop held $2.6 billion in cash and equivalents. It generated $309.2 million in operating cash flow during the quarter.
- Non-GAAP earnings per ADS of $0.32 missed the analyst consensus of $0.36.
- Outlook: Vipshop sees Q3 revenue of $3.76 billion - $3.95 billion (RMB24.3 billion - RMB25.5 billion), below the analyst consensus of $4.1 billion.
- Price Action: VIPS shares traded lower by 5.70% at $13.825 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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