- E-commerce platform LightInTheBox Holding Co Ltd LITB reported second-quarter FY21 revenue growth of 7.3% year-on-year to $122.2 million, beating the analyst consensus of $78.5 million.
- Revenues generated from product sales were $119.3 million, compared with $107.2 million in Q2 of 2020. Revenues from service and others were $2.9 million, compared with $6.7 million in Q2 of 2020.
- The gross margin expanded 330 bps to 46.8%.
- The net income rose 11.6% Y/Y to $9.5 million.
- Net income per ADS was flat at $0.08.
- LightInTheBox held $58.2 million in cash and equivalents.
- Price Action: LITB shares traded higher by 3.03% at $1.36 in the premarket session on the last check Tuesday.
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