Wed, Dec 11, 2019 - Page 12 News List

Momo.com and PChome report record revenues

By Natasha Li  /  Staff reporter

The nation’s two biggest online retailers, Momo.com Inc (富邦媒體) and PChome Online Inc (網路家庭), yesterday posted record revenues for last month on the back of Double 11 Singles’ Day sales.

Momo.com posted revenue of NT$6.68 billion (US$219 million) for last month, up 40.4 percent year-on-year and marking its ninth consecutive month of double-digit percentage year-on-year growth, the company said.

Momo.com last month posted a 53 percent year-on-year increase in sales of sports and leisure products, a 46 percent increase in consumer electronics products and 45 percent in household goods and decorations, it said.

Sales of cosmetics and health products also surged 43 percent, while sales of clothing and accessories rose 42 percent, it said, adding that purchases made through its mobile shopping app grew 56.6 percent year-on-year.

Cumulative revenue for the first 11 months of the year was NT$46.67 billion, up 23.5 percent year-on-year and surpassing last year’s annual revenue of NT$42.02 billion, data showed.

Net profit in the first three quarters of the year dropped 6.38 percent year-on-year to NT$974.72 million, or earnings per share of NT$6.96, down from NT$7.43 for the same period last year.

Meanwhile, PChome Online posted revenue of NT$4.69 billion for last month, a 9.78 percent year-on-year increase.

In the first 11 months of the year revenue was NT$35.21 billion, surpassing last year’s annual revenue of NT$34.59 billion, the company said.

Despite slower sales growth this year compared with Momo.com, PChome said it had succeeded in moving back into the black as the firm posted a net profit of NT$55.92 million for last quarter, or earnings per share of NT$0.48.

PChome’s net profit was NT$128.55 million in the first three quarters of the year, compared with a loss of NT$984.22 million in the same period last year.

Both retailers are planning end-of-year sales, with Momo.com slashing prices by up to 70 percent on more than 1 million products, while PChome is hosting a concert to promote its Web site.

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