Vipshop Holdings Q1 Adj. Profit Beats Estimate; Issues Q2 Revenue Outlook

(RTTNews) - Vipshop Holdings Limited (VIPS) Wednesday reported first-quarter net income attributable to shareholders of $26.6 million or $0.23 per share, compared to $5.8 million or $0.05 per share in the same period last year.

Adjusted earnings for the quarter were $37.7 million or $0.63 per share, up from $9.0 million or $0.17 per share in the year-ago period. On average, six analysts polled by Thomson Reuters expected the company to earn $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 125.9 percent to $701.93 million from $310.66 million last year. Analysts expected revenues of $650.49 million.

Looking ahead to the second quarter, the company has forecast revenues in a range of $780 million to $790 million. Analysts currently expect second-quarter revenues of $685.60 million.