Chinese online retailer Dangdang said that third-quarter revenue is lower than expected. Beforewards, Dangdang reduced the sales of low margin products to improving its profits.
Dangdang US depository receipt reduced 7% in after-hours trading, increased 2.3% in regular trade.
The company said that third-quarter revenue was between 1.52 to 1.53 billion yuan, lower than the expected 15.8 billion yuan.
Dangdang said hird-quarter revenue is expected to 27 to 29 million yuan. The net loss was 1000.1 million yuan in the same period last year. And the profit rate was expected to increase from 15.2% to 17.5%.
Written by Nicolas Yang
Source:
