Vipshop Holdings Q1 Revenue Misses Estimate; Plans To Repurchase Stock Worth $500M By Year-end
Portfolio Pulse from Nabaparna Bhattacharya
Vipshop Holdings Limited (NYSE: VIPS) reported Q1 revenue of $3.83 billion, missing estimates of $3.93 billion. Despite the miss, gross margin increased to 23.7%, and adjusted earnings per ADS beat expectations at 65 cents. The company plans to repurchase $500 million worth of stock by the end of 2024. VIPS shares rose 4.5% to $17.19.
May 22, 2024 | 1:46 pm
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Vipshop Holdings reported Q1 revenue of $3.83 billion, missing estimates. However, gross margin improved to 23.7%, and adjusted earnings per ADS beat expectations at 65 cents. The company plans to repurchase $500 million worth of stock by the end of 2024. Shares rose 4.5%.
Despite missing revenue estimates, Vipshop Holdings showed strong gross margin improvement and beat earnings expectations. The announcement of a significant stock repurchase plan likely contributed to the positive market reaction, with shares rising 4.5%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100