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Vipshop Stock Soars After Q2 Results Beat Expectations

By Tianyu M. Fang / Aug 16, 2019 03:22 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

E-commerce retailer Vipshop’s NYSE-listed stocks soared Thursday (New York time) after the company reported strong profit growth in the second quarter.

The Chinese company reported a quarterly revenue of 22.7 billion yuan ($3.3 billion), a 9.7% year-on-year increase, and a gross profit of 5.1 billion yuan, up 25.9% from the second quarter of 2018.

Compared to the same period last year, the total number of active customers rose from 29.8 million to 33.1 million — an increase of 11%. Total orders grew by 33%.

Vipshop stock had risen 15.02% to $7.20 per share by market close on Thursday.

Vipshop acquired Chinese brick-and-mortar chain Shan Shan Outlets back in July, in an effort to expand its presence in physical retailing.

Related: Vipshop Gets Physical With $422 Million Brick-and-Mortar Purchase

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