JD.com Q2 net revenues jump 31.2 percent

China’s ecommerce company JD.com, Inc. has reported net revenues for the second quarter of 122.3 billion Chinese yuan (218.5 billion dollars), an increase of 31.2 percent from the second quarter of 2017. The company said, net service revenues for the quarter were 11.8 billion Chinese yuan (1.8 billion dollars), an increase of 51 percent. Net loss from continuing operations attributable to ordinary shareholders was 2,212.5 million Chinese yuan (334.4 million dollars) compared to 287 million Chinese yuan (41.6 million dollars) for the same period last year.

"As China's most trusted e-commerce platform, JD continues to win over quality-focused customers with a premium shopping experience and an unrivaled level of service, no matter where they choose to shop," said Richard Liu, Chairman and CEO of JD.com in a statement, adding, "We are also seeing more corporate clients, both Chinese and international, leveraging JD's superior technology and retail infrastructure to help take their businesses to the next level.”

Operating margin of JD Mall before unallocated items was 1.1 percent compared to 0.8 percent for the same period last year. Non-GAAP net income from continuing operations attributable to ordinary shareholders for the second quarter was 478.1 million Chinese yuan (72.3 million dollars), compared to 976.5 million Chinese yuan for the same period last year. Diluted net loss per ADS from continuing operations was 1.54 Chinese yuan (0.23 dollars), compared to 0.20 Chinese yuan for the second quarter of 2017. Non-GAAP diluted net income per ADS from continuing operations was 0.33 Chinese yuan (0.05 dollars), compared to 0.67 Chinese yuan for the same quarter last year.

The company added that annual active customer accounts increased by 21.5 percent to 313.8 million in the twelve months ended June 30, 2018 from 258.3 million in the twelve months ended June 30, 2017.

JD.com said, net revenues for the third quarter of 2018 are expected to be between 104.5 billion Chinese yuan and 109 billion Chinese yuan, representing a growth rate between 25 percent and 30 percent compared with the third quarter of 2017.

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