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.
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