JD.com: First quarter revenues increase by 20.7 percent

For its first quarter, JD.com, Inc. reported net revenues of 146.2 billion Chinese yuan (120.6 billion dollars), an increase of 20.7 percent from the first quarter of 2019. The company said in a statement that net revenues from the sales of general merchandise products were 52.5 billion Chinese yuan (7.4 billion dollars), an increase of 38.2 percent, while net service revenues were 16.1 billion Chinese yuan (2.3 billion dollars), an increase of 29.6 percent from the first quarter of 2019.

“We are proud that JD.com has been able to remain fully operational throughout the Covid-19 outbreak,” said Richard Liu, Chairman and Chief Executive Officer of JD.com, adding, “Strong user growth during the first quarter reflects consumers’ increasing reliance on JD.com to support every aspect of their lives, and confidence in our commitment to providing a broad selection of quality products and best-in-class services.”

Highlights of JD.com’s first quarter results

The company added that income from operations was 2.3 billion Chinese yuan (0.3 billion dollars), compared to 1.2 billion Chinese yuan for the same period last year. Non-GAAP income from operations was 3.3 billion Chinese yuan (0.5 billion dollars) with a non-GAAP operating margin of 2.2 percent compared to 2 billion Chinese yuan for the first quarter of 2019 with a non-GAAP operating margin of 1.6 percent.

Net income attributable to ordinary shareholders reached 1.1 billion Chinese yuan (0.2 billion dollars), compared to 7.3 billion Chinese yuan for the same period last year. Non-GAAP net income attributable to ordinary shareholders was 3 billion Chinese yuan (0.4 billion dollars), compared to 3.3 billion Chinese yuan for the same period last year.

Diluted net income per ADS was 0.72 Chinese yuan (10 cents), compared to 4.96 Chinese yuan for the first quarter of 2019, while non-GAAP diluted net income per ADS was 1.98 Chinese yuan (28 cents), compared to 2.23 Chinese yuan for the same period last year.

The company’s annual active customer accounts increased by 24.8 percent to 387.4 million in the twelve months ended March 31, 2020 from 310.5 million in the twelve months ended March 31, 2019, while mobile daily active users in March 2020 increased by 46 percent as compared to March 2019.

Picture:JD.com media resources

 

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