Vipshop Holdings Q2 Profit Rises

(RTTNews) - Chinese online discount retailer Vipshop Holdings Ltd (VIPS) reported second-quarter profit rose to 399.3 million yuan or 0.66 yuan per ADS from last year's profit of 161.5 million yuan or 0.27 yuan per ADS last year.

On a US dollar basis, net income for the quarter was $64.4 million or $0.11 per ADS.

Adjusted earnings for the quarter rose to 0.86 yuan per ADS from 0.44 per ADS last year. Adjusted earnings, on a US dollar basis, were $0.14 per ADS. Analysts polled by Thomson Reuters estimated earnings of $0.12 per ADS for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter surged to 9.02 billion yuan from from 5.08 billion yuan last year. On a US dollar basis, revenues were $1.45 billion. Analysts had a consensus revenue estimate of $1.45 billion for the quarter.

For the third quarter, the company expects revenues of 9.1 billion to 9.3 billion yuan.