Shares of Vipshop Holdings Limited (VIPS) are gaining over 13% on Wednesday morning after the Chinese e-commerce company reported its fourth-quarter results.
VIPS is currently trading at $19.70, up $2.36 or 13.61%, on the Nasdaq. The stock opened its trading at $17.38 after closing Tuesday at $17.34. The stock has traded between $13.80 and $20.13 in the past 52-week period.
Vipshop's fourth-quarter profit increased to RMB 3.0 billion from RMB 2.2 billion in the prior year period. Net income per ADS increased to RMB 5.35 from RMB 3.66.
Revenues increased by 9.2% year over year to RMB 34.7 billion. GMV increased by 21.9% year over year to RMB 66.4 billion.
For the first quarter, the company expects total net revenues to be between RMB 27.5 billion and RMB 28.9 billion, a year-over-year increase of approximately 0% to 5%.
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