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Revenue and net income fell compared to the same quarter last year, despite strong growth in company-owned teahouses. Overseas markets contributed to expansion, but overall GMV in Greater China declined.
Revenue was $450,672,000, down from $497,496,000 a year ago
Net income dropped to $55,887,000, reflecting pressure on margins
Company-owned teahouses revenue rose 63.8% YoY to $55,725,000
A special cash dividend of $0.92 per share was announced
The company remains focused on expanding its company-owned network and boosting overseas presence, while facing headwinds in the domestic market.
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