TV and online retailer Momo.com Inc (富邦媒體) on Thursday last week reported its lowest earnings per share (EPS) for the January-to-March quarter in three years, affected by non-operating losses of NT$4.6 million (US$155,217).
The firm’s EPS for the first quarter reached NT$2.2, compared with NT$2.21 during the same period last year and NT$2.45 two years ago.
The decline came as net income fell 0.4 percent year-on-year to NT$307 million, the company said in a statement on its Web site.
However, after adjusting for one-time disposal gains or losses and effects from the International Financial Reporting Standards 9 guidelines, recurring net income for the quarter increased 8.7 percent year-on-year to NT$327.3 million and EPS expanded to NT$2.34, Momo.com said.
Accelerating growth in the company’s online business-to-customer (B2C) business and a recovery in TV home shopping helped boost the company’s revenue last quarter 34.3 percent annually to NT$10.18 billion, surpassing NT$10 billion for the first time in a single quarter, it said.
The 34.3 percent year-on-year growth is also the fastest on a quarterly basis since the company was listed on the nation’s main board in December 2014, it added.
“Mobile sales in B2C saw a 70.7 percent increase year-on-year and remains the key driver to B2C’s growth, as we continue to gain market share from e-commerce peers and brick-and-mortar retailers,” Momo.com said. “Market share gain and scale remain top priorities for our B2C business.”
The company’s revenue breakdown showed its B2C online shopping site Momoshop.com (Momo 購物網) as contributing 82.44 percent to the company’s overall revenue last quarter, while the TV home shopping segment contributed 14.34 percent.
Momo.com, which also operates a platform for catalog shopping, said the average number of active members in the first quarter stood at 7.1 million per month, up 5.7 percent from a year ago, with average spending exceeding NT$2,000 per transaction, up 8.8 percent annually.
The company was upbeat about its business outlook for the first half, citing aggressive marketing activities for Mother’s Day and special sales for consumer electronics and household items, as well as a product lineup expansion through partnerships with major brand vendors, it said.
Momo.com shares on Friday last week rose 0.2 percent to NT$250 in Taipei trading. The shares have risen 15.97 percent in the past 12 months, higher than the broader market’s 6.9 percent increase over the period, Taiwan Stock Exchange data showed.
Taiwan’s foreign exchange reserves fell below the US$600 billion mark at the end of last month, with the central bank reporting a total of US$596.89 billion — a decline of US$8.6 billion from February — ending a three-month streak of increases. The central bank attributed the drop to a combination of factors such as outflows by foreign institutional investors, currency fluctuations and its own market interventions. “The large-scale outflows disrupted the balance of supply and demand in the foreign exchange market, prompting the central bank to intervene repeatedly by selling US dollars to stabilize the local currency,” Department of Foreign
Intel Corp is joining Elon Musk’s long-shot effort to develop semiconductors for Tesla Inc, Space Exploration Technologies Corp and xAI, marking a surprising twist in the chipmaker’s comeback bid. Intel would help the Terafab project “refactor” the technology in a chip factory, the company said on Tuesday in a post on X, Musk’s social media platform. That is a stage in the development process that typically helps make chips more powerful or reliable. The chipmaker’s shares jumped 4.2 percent to US$52.91 in New York trading on Tuesday. The Terafab project is a grand plan by Musk to eventually manufacture his own chips for
Some robotaxi passengers were left stranded in the middle of fast-moving traffic in a major Chinese city after their driverless vehicles stopped running, according to police and media reports on Wednesday. A preliminary investigation indicates more than 100 robotaxis came to a halt because of a “system malfunction,” police in the city of Wuhan said in a statement, without elaborating. No injuries were reported. One passenger told Chinese media that their robotaxi stopped after turning a corner. An instruction on a screen read: “Driving system malfunction. Staff are expected to arrive in 5 minutes.” After no one showed up, the passenger pushed
Taiwan Power Co (Taipower, 台電) yesterday said it plans to resume operations at two coal-fired power generators for three months to boost security of electricity supply as liquefied natural gas (LNG) supply risks are running high due to the Middle East conflict. The two coal-fired power generators are at Mailiao Power Plant in Yunlin County’s Mailiao Township (麥寮). The plant, operated by Formosa Plastics Group (台塑集團), supplied electricity to Taipower’s power grid until the end of last year. Taipower’s decision came about one month after Minister of Economic Affairs Kung Ming-hsin (龔明鑫) on March 10 said that the nation had no imminent
RSS