Secoo Expects Tenfold Earnings Growth in Q3
Secoo (NASDAQ: SECO) recently announced preliminary third-quarter revenue and earnings estimates, and the numbers were stunning. The Chinese luxury e-tailer expects to generate $145.8 million to $147.3 million in revenues, which would equal 42%-44% annual growth. That marks an acceleration from the 30% sales growth it posted during the first half of 2017.
Its gross merchandise volume (GMV) -- the total value of all orders, excluding cars -- should reach $204.7 million to $208.9 million, which represents 64%-65% annual growth. That also marks an acceleration from 51% GMV growth in the first half of the year.
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Source: Fool.com
