Stock Alert: Baozun Down 9%

(RTTNews) - Shares of Baozun Inc. (BZUN) are losing nearly 9% on Friday morning after the Chinese e-commerce company reported its second-quarter results.

BZUN is currently trading at $38.14, down $3.85 or 9.17%, on the Nasdaq.

Net income for the quarter was RMB119.8 million or RMB2.00 per share, up from RMB67.1 million or RMB1.13 per share last year.

On an adjusted basis, net income was RMB146.0 million or $20.7 million, an increase of 73.4% from the same quarter last year. On a per share basis, adjusted earnings were $0.34, while analysts polled by Thomson Reuters were expecting earnings of $0.23 per share.

Revenues were RMB2.15 billion or $304.6 million, an increase of 26.3% from RMB1.70 billion last year. Analysts had a consensus revenue estimate of $299.13 million.

Looking forward to the third quarter, the company expects revenues of RMB1.75 billion to RMB1.80 billion.