Jumei Int'l. (JMEI) Stock Slumps Despite Earnings Beat

NEW YORK (TheStreet) -- Shares of Jumei International (JMEI) were falling 6.3% to $26.23 on heavy trading volume Friday despite the beauty product company's positive first quarter.

Jumei reported earnings of 11 cents a share for the first quarter, above analysts' estimates of 9 cents a share for the quarter. Revenue grew 61.8% year over year to $250.59 million for the quarter, beating analysts' estimates of $230.53 million.

Looking to the second quarter Jumei said it expects revenue of $270.1 million to $277.8 million, above analysts' estimates of $237.51 million.

"We are pleased to announce stronger-than-expected growth for the first quarter of 2015," Founder and CEO Leo Chen said in a statement. "We successfully completed our transition for beauty products from marketplace sales to merchandise sales at the end of 2014, and our new business initiative - Jumei Global, took off early this year and experienced high growth in terms of sales volume."

About 4.6 million shares of Jumei were traded by 11:28 a.m. Friday, above the company's average trading volume of about 2 million shares a day.

JMEI ChartJMEI data by YCharts

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