Baozun Brings Back the Bulls with a Big First-Quarter Beat
Baozun's (NASDAQ: BZUN) stock recently surged after the Chinese e-commerce services provider posted its first-quarter numbers. Its revenue grew 18% annually to 1.52 billion yuan ($215.2 million), decelerating from previous quarters due to COVID-19 but beating estimates by $13.8 million.
Baozun's net income declined by 94% to 2.2 million yuan ($0.3 million). Its non-GAAP net income, which excludes stock-based compensation and other variable expenses, fell 51% to 26 million yuan ($3.7 million), or $0.06 per ADS -- which beat expectations by three cents.
Baozun expects its revenue to rise 20%-23% annually in the second quarter as the Chinese economy recovers from COVID-19, but it didn't offer any bottom-line guidance. Will Baozun's business recover and bring back more bulls?
Source Fool.com
