YSG - Why Yatsen Stock Plummeted This Morning
Shares of Yatsen Holding Limited (NYSE: YSG) plummeted by as much as 13% this morning after the company reported first-quarter earnings. The results were mixed relative to expectations. As of 12:20 p.m. EDT, the stock had somewhat recovered but was still down 6%.
Revenue in the first quarter was $220.5 million, ahead of the consensus estimate of $214.5 million. That resulted in an adjusted net loss of $35.8 million, or $0.06 per share, which was worse than the $0.04 per share in adjusted net losses analysts were modeling for. The Chinese consumer discretionary company , which makes beauty products, said direct-to-consumer (DTC) customers increased to 9.6 million and average net revenue per DTC customer was 122.9 yuan ($19.10 based on current exchange rates).
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Why Yatsen Stock Plummeted This Morning