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Why Vipshop Stock Crashed Today

TheMotleyFool

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Shares of Vipshop Holdings (NYSE: VIPS) crashed today, down by 10% as of 1:10 p.m. EDT, after the company reported first-quarter earnings. The results beat analyst expectations, but Vipshop's guidance disappointed investors.

Revenue in the first quarter was 28.4 billion yuan ($4.3 billion), ahead of the $28 billion yuan that the market was expecting. That translated into adjusted earnings per American depositary share (ADS) of $0.37, similarly beating the consensus estimate of $0.36 per ADS. The Chinese e-commerce technology company said gross merchandise volume (GMV) jumped 59% to 46.1 billion yuan and active customers reached 45.8 million. Total orders during the quarter were 175.5 million.

Image source: Getty Images.

Source Fool.com

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