Vipshop Holdings (NYSE: VIPS) saw its stock plummet 8.60% in pre-market trading on Tuesday following the release of its first-quarter 2025 financial results. The Chinese online discount retailer's earnings fell short of analyst expectations, while revenue also slightly missed estimates.

The company reported adjusted earnings per share of $0.61, missing the analyst consensus estimate of $0.66 by 7.58%. This represents a 6.15% decrease compared to the same period last year. Vipshop's quarterly revenue came in at RMB 26.27 billion ($3.62 billion), slightly below the FactSet estimate of RMB 26.42 billion. The revenue figure also marks a 5.46% decrease from the previous year's quarter.

Despite the disappointing results, Vipshop reported some positive metrics. The company's Gross Merchandise Value (GMV) for Q1 reached RMB 52,380 million, while adjusted net income stood at RMB 2,300 million. Gross profit for the quarter was RMB 6,100 million. Looking ahead, Vipshop provided guidance for Q2 2025, expecting revenue between RMB 25.5 billion and RMB 26.9 billion. The market's negative reaction suggests investors are concerned about the company's growth trajectory and its ability to meet expectations in the competitive Chinese e-commerce landscape.