JD.com (JD) is the first of a wave of Chinese Internet companies to issue quarterly earnings this week, and its shares rallied Monday. Coming up, Ctrip (CTRP), Vipshop (VIPS), Cheetah Mobile (CMCM), Momo (MOMO), Weibo (WB) and Leju (LEJU) also report their results. Follow Alissa Williams on Twitter @IBD_AWilliams and Facebook.
Chinese online-discount retailer Vipshop Holdings (VIPS) stock crumbled on Friday after the company lowered its revenue guidance for Q3, saying that “warmer-than-expected fall weather” had cut into sales as customers put off buying higher-priced winter clothes. Vipshop said that it expects revenue of RMB 8.6 billion ($1.35 billion) to RMB 8.7 billion ($1.36 billion), up 62% year over year at the midpoint. Vipshop had originally forecast revenue of
Shares of Vipshop Holdings (VIPS) leaped as much as 11% Friday, as the online-discount retailer and other U.S.-traded China-based stocks got a boost from a rally in China’s stock market. Vipshop appears to be immune from China’s “challenging economy” and expects healthy revenue growth in Q3 and Q4, wrote Summit Research/W.R. Hambrecht analyst Henry Guo in a research note Friday. Investment bank Nomura, however, lowered its price target on Vipshop