Vipshop Exceeds Q2 Earnings and Revenue Expectations, Anticipates 5% Growth in Q3

Vipshop Holdings reported Q2 revenue of $3.6 bln, up 1.7% YoY, and a 2.44% stock rise. Active customer numbers declined, but the company anticipates up to 5% YoY revenue growth for Q3, driven by enhanced operational efficiency and strengthened brand partnerships.

Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer in China, reported its unaudited financial results for the second quarter of 2025. The company's total net revenues for the period were RMB25.8 billion (US$3.6 billion), a 1.7% year-over-year (YoY) increase compared to RMB26.9 billion in the prior year period [1].

The gross merchandise volume (GMV) for the second quarter of 2025 increased by 1.7% YoY to RMB51.4 billion from RMB50.6 billion in the prior year period. Gross profit for the quarter was RMB6.1 billion (US$845.2 million), down slightly from RMB6.3 billion in the prior year period. The company's operating expenses increased by 6.3% YoY to RMB4.6 billion (US$637.0 million), with marketing expenses decreasing by 3.3% to RMB715.9 million (US$99.9 million) [1].

Vipshop's net income attributable to shareholders for the second quarter of 2025 was RMB1.5 billion (US$208.0 million), down from RMB1.9 billion in the prior year period. The company's non-GAAP net income attributable to shareholders was RMB2.1 billion (US$290.0 million), a decrease from RMB2.2 billion in the prior year period [1].

Active customer numbers declined to 43.5 million, down from 44.3 million in the prior year period. However, the company expects total net revenues for the third quarter of 2025 to be between RMB20.7 billion and RMB21.7 billion, representing a YoY increase of approximately 0% to 5% [1].

The company's stock rose by 2.44% following the announcement. Vipshop Holdings is expected to hold a conference call on Thursday, August 14, 2025, at 7:30 am U.S. Eastern Time to discuss the financial results [1].

References:
[1] https://www.prnewswire.com/news-releases/vipshop-reports-unaudited-second-quarter-2025-financial-results-302529932.html