Why Baozun Stock Popped This Morning
Shares of Baozun (NASDAQ: BZUN) popped as much as 13% this morning after the company reported first-quarter earnings. The results were mixed compared to analyst expectations, and Baozun also authorized a new share repurchase program. As of 3:10 p.m. EDT, the stock was still up 8%.
Revenue in the first quarter was $308.4 million, slightly shy of the $314.5 million in sales that Wall Street was forecasting. That resulted in adjusted earnings per share of $0.13, which beat the consensus estimate of $0.10 per share in adjusted profits. The Chinese e-commerce technology company said that gross merchandise volume (GMV) increased 44% to 13.2 billion yuan ($2.05 billion). Baozun now has 281 brand partners and 272 GMV brand partners.
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Source Fool.com
