Baozun (BZUN) reported earnings on Tue 21 November 2017 (a/h)

** charts before earnings **

 

** charts after earnings **

Baozun beats on top and bottom lines; Q4 revs guidance range near high end of estimate 

• Reports Q3 (Sep) earnings of RMB 0.64 per ADS, RMB 0.08 better than the Capital IQ Consensus of RMB 0.56; revenues rose 18.8% year/year to RMB 890.2 mln vs the RMB 876.3 mln Capital IQ Consensus.
• Total Gross Merchandise Volume was RMB4,104.0 million, an increase of 70.7% year-over-year. Number of brand partners increased to 146 as of September 30, 2017, from 127 as of September 30, 2016. Number of GMV brand partners increased to 141 as of September 30, 2017, from 115 as of September 30, 2016. 
• Co sees Q4 revs of RMB1.49-1.53 bln vs. RMB 1.49 bln Capital IQ Consensus Estimate. While the Company is transitioning more of its business from the distribution model towards the non-distribution model, Baozun began providing quarterly guidance on services revenues starting in the second quarter of 2017. For the fourth quarter of 2017, the Company expects services revenue to increase by over 55% on a year-over-year basis.