Vipshop (VIPS) reported Q1 adjusted earnings Thursday of 4.68 Chinese renminbi ($0.69) per diluted American depositary share, up from 4.43 renminbi a year earlier.

Analysts surveyed by FactSet expected 4.56 renminbi.

Net revenue for the quarter ended March 31 was 26.57 billion renminbi, up from 26.27 billion renminbi a year earlier.

Analysts polled by FactSet expected 26.55 billion renminbi.

The company expects Q2 net revenue of 24.5 billion renminbi to 25.8 billion renminbi. Analysts surveyed by FactSet expect 26.27 billion renminbi.

Vipshop shares were down 1.6% in premarket activity.