Jumei Q3 Profit Rises, But Misses View; Shares Down

(RTTNews) - Jumei International Holding Ltd (JMEI) Wednesday reported an increase in profit for the third quarter, as revenues rose. Nevertheless, earnings for the quarter fell short of Wall Street estimates, as did revenues, sending the company's stock down 10 percent in extended trading hours.

Beijing, China-based Jumei's third-quarter profit rose to $19.5 million or $0.13 per ADS from $16.4 million or $0.12 per ADS last year. Analysts polled by Thomson Reuters expected earnings of $0.14 per ADS for the quarter.

Revenues for the quarter rose to $157.7 million from $123.3 million last year. However, fell short of analysts' mean estimate of $168.83 million for the quarter.

Moving ahead, the company maintained its fiscal-year 2014 adjusted income guidance of $81 million to $87 million.

JMEI closed Wednesday's trading at $22.23, down $0.98 or 4.22%, on the Nasdaq. The stock further dropped $2.34 or 10.53% in the after-hours trade.