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Why Vipshop Holdings Stock Popped Today

TheMotleyFool

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Shares of Vipshop Holdings (NYSE: VIPS) have popped today, up by 17% as of 11:30 a.m. EST, after the company reported fourth-quarter earnings. The results topped expectations and the Chinese e-commerce specialist warned that the coronavirus outbreak would impact the first quarter.

Revenue in the fourth quarter increased 12% to $4.2 billion, ahead of the $4 billion in sales that the market was expecting. That translated into adjusted net income of $277.4 million, or $0.41 per share. Analysts were modeling for just $0.29 per share in adjusted profits. Gross merchandise value (GMV) increased 14% to 47.6 billion yuan ($6.9 billion).

Image source: Getty Images.

Source Fool.com

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