Vipshop Profit Soars

(RTTNews) - Chinese online discount retailer Vipshop Holdings Ltd (VIPS) Tuesday reported third-quarter net earnings of $27.7 million or $0.05 per American depositary share, or ADS. This compares with a profit of $12 million or $0.02 per ADS last year.

Excluding items, adjusted earnings for the quarter were $0.08 per ADS compared with $0.03 per ADS a year ago.

Revenues for the quarter were $882.6 million compared with $383.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.07 per ADS on revenues of $863 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects revenues of $1.2 billion to $1.22 billion, while analysts expect $1.21 billion.