NEW YORK (TheStreet) -- Shares of Vipshop Holdings (VIPS) are higher by 3.49% to $27.59 in after-hours trading on Wednesday afternoon, following the release of the China-based online discount retailer's 2015 first quarter earnings results, which improved year-over-year and exceeded analysts' expectations.
Vipshop said its non-GAAP net income grew to 13 cents per diluted ADS versus the 10 cents per share analysts polled by Thomson Reuters had forecast.
The company's total revenue for the most recent quarter was $1.4 billion, compared to the $1.29 analysts were looking for.
"We are very pleased with our robust first quarter 2015 financial and operational results, which were largely driven by our improved brand recognition among customers, smooth execution of our mobile initiatives, continued operational improvements as well as further enhanced shopping experience, as evidenced by the significant year-over-year growth in total repeat customers," company CEO Eric Shen said in the company's earnings release.
Additionally, earlier today Vipshop stock was gaining after the company responded to allegations made by short sellers. For more on that story click here.
Separately, TheStreet Ratings team rates VIPSHOP HOLDINGS LTD -ADR as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate VIPSHOP HOLDINGS LTD -ADR (VIPS) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."