智通财经APP获悉，周四，唯品会(VIPS.US)股价走低，截至发稿，该股逆市走低，股价跌超1.8%，报19.09美元。消息面上，该公司发布2025年第三季度财报，核心业绩整体略优于市场预期，展现出折扣零售模式在消费复苏节奏缓慢的背景下仍具一定韧性。公司当季收入达到30亿美元，同比增长3.4%，较市场预期高出3000万美元；非GAAP口径每ADS盈利为0.42美元，较预期高出0.01美元，盈利表现稳健。
在业务规模方面，公司商品交易总额(GMV)在三季度增至人民币431亿元，同比增长7.5%，增速明显高于营收增幅，显示整体客单价有所提升。同期活跃客户数达到4010万，同比增长1.3%；总订单量为1.664亿单，同比增长1.5%。在用户增长趋缓的背景下，公司仍成功实现订单与GMV同步扩大。
展望第四季度，唯品会预计营收将在人民币332亿至349亿元之间，同比变动在0%至增长5%区间。虽然指引略显谨慎，公司表示，在年末促销季带动下，业务需求有望保持平稳增长。
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