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(RTTNews) - Vipshop Holdings Limited (VIPS) reported that first quarter net income attributable to shareholders increased by 24.6% year over year to RMB 2.3 billion. Net income per ADS increased to RMB 4.18 from RMB 3.16. Non-GAAP net income attributable to shareholders increased by 24.8% year over year to RMB 2.6 billion. Non-GAAP net income per ADS increased to RMB 4.66 from RMB 3.52.

Total net revenues increased by 0.4% year over year to RMB 27.6 billion from RMB 27.5 billion in the prior year period.

For the second quarter, the company expects total net revenues to be between RMB 26.5 billion and RMB 27.9 billion, a year-over-year decrease of approximately 5% to 0%.

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