Mijas Guide
Related Articles
- Baozun Inc. BZUN announced a decline in revenue in the first quarter of FY22 of 1.8% year-on-year to $312.99 million, beating consensus of $283.85 million.
- Drivers: Gross Merchandise Volume (GMV) increased 28.4% year-on-year to RMB 17 billion. Retail GMV decreased 28.8% year-on-year to RMB 764.6 million. Non-distribution GMV climbed 33.4% year-on-year to RMB 16.2 billion.
- segments: Product sales revenue decreased 29.9% year-over-year to $107.4 million. Services revenue increased 24.3% year-on-year to $205.6 million.
- Non-GAAP operating margin fell 350 basis points to 0.2%. Non-GAAP operating income was RMB 4.7 million ($0.7 million), compared to RMB 75.8 million a year ago.
- Non-GAAP earnings per ADS of $0.00 missed the consensus of $0.02.
- Baozun held $532.5 million in cash and cash equivalents.
- Chief Financial Officer Arthur Yu commented, “Despite some macroeconomic turmoil, I am pleased that Baozun’s business generated sustainable revenue, with service revenue growing 24.3% year-on-year. other and realized a non-GAAP operating income of RMB 4.7. It is encouraging to see that, although the income from the operation of the online store has decreased, our value-added services, including digital marketing and IT solutions, saw high double-digit year-over-year growth.
- Price Action: Shares of BZUN traded up 19.9% to $9.46 when last checked on Thursday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
