Vipshop Holdings Ltd Sponsored ADR (VIPS.US) Q3 revenue fell 9% year-over-year, while GMV dropped 6% year-over-year.

Vipshop Holdings Ltd Sponsored ADR (VIPS.US) released its financial report for the third quarter of 2024 on Tuesday. The report shows that Vipshop Holdings Ltd Sponsored ADR's Q3 revenue was 20.7 billion yuan, a decrease of 9.2% year-on-year; Non-GAAP net profit was 1.3 billion yuan, compared to 1.8 billion yuan in the same period of the previous year; Adjusted earnings per ADS were 2.47 yuan, compared to 3.33 yuan in the same period of the previous year. GMV (Gross Merchandise Volume) for the third quarter was 40.1 billion yuan, a decrease of 5.6% compared to the same period last year. The number of active users was 39.6 million, compared to 42.3 million in the same period last year. The total number of orders was 163.9 million, compared to 179.9 million in the same period last year. As of September 30, 2024, the company had cash, cash equivalents, and restricted cash totaling 22.5 billion yuan, and short-term investments of 1.6 billion yuan. Looking ahead, Vipshop Holdings Ltd Sponsored ADR expects fourth-quarter revenue for 2024 to be between 31.2 billion and 32.9 billion yuan, a year-on-year decrease of approximately 10% to 5%. As of the time of writing, Vipshop Holdings Ltd Sponsored ADR had fallen by 1.87% in pre-market trading.