LightInTheBox Holding Q2 Revenue Rises

(RTTNews) - Beijing-headquartered, LightInTheBox Holding Co., Ltd. (LITB), a cross-border e-commerce platform, on Tuesday, posted a rise in profit for the second quarter of the fiscal year 2021, with a rise in revenue.

Despite Covid-19 pandemic-related headwinds, the Chinese firm posted a profit for the June quarter at $9.38 million or $0.04 per share, compared to $8.48 million or $0.04 per share, year-over-year basis.

Net income per American Depositary Share or ADS of the company remained flat at $0.08 for the second quarter.

On adjusted basis, the e-commerce platform recorded its earnings at $9.45 million for the quarter, higher than $8.47 million, posted for the three-month period ended in June, last year.

The earnings before interest, taxes, depreciation and amortization (EBITDA) of the online company also rose to $14.48 million, from $9.06 million a year ago.

Amid growing competition in the online space, the total revenue of the firm increased by 7.3 percent, to $122.2 million, from $113.9 million, reported during the June quarter of 2020.

Owing to higher demand, LightInTheBox generated a revenue of $119.3 million from the sale of its products for the thirteen-week period, higher than $107.2 million, a year earlier.