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JD.com posts increase in Q3 revenue and earnings

By Prachi Singh

16 Nov 2020

Business

JD.com, Inc., for the three months ended September 30, 2020 reported net revenues of 174.2 billion Chinese yuan (125.7 billion dollars), an increase of 29.2 percent from the third quarter of 2019. The company said in a statement that net income attributable to ordinary shareholders was 7.6 billion Chinese yuan (1.1 billion dollars), compared to 0.6 billion Chinese yuan for the same period last year, while non-GAAP net income increased by 80.1 percent to 5.6 billion Chinese yuan (0.8 billion dollars). Diluted net income per ADS for the third quarter was 4.70 Chinese yuan (69 cents) compared to 0.41 Chinese yuan for the third quarter of 2019 and non-GAAP diluted net income per ADS was 3.42 Chinese yuan (50 cents), compared to 2.08 Chinese yuan for the same period last year.

“Today, as China emerges from the pandemic, we are glad to see that our business partners are recovering rapidly with the support of our online and offline supply chain infrastructure. And our consumer mindshare continues to expand with over 100 million new active users joining our platform compared to a year ago,” said Richard Liu, Chairman and Chief Executive Officer of JD.com, adding, “We look forward to continuously leveraging JD’s leading supply chain-based technology and nationwide infrastructure for the benefit of the society.”

The company added that net revenues from the sales of general merchandise products for the third quarter were 58.1 billion Chinese yuan (8.6 billion dollars), an increase of 34.8 percent from the third quarter of 2019, while net service revenues were 22.8 billion Chinese yuan (3.4 billion dollars), an increase of 42.7 percent.

Income from operations was 4.4 billion Chinese yuan (0.6 billion dollars), compared to 5 billion Chinese yuan for the same period last year, while non-GAAP income from operations was 5.3 billion Chinese yuan (0.8 billion dollars) with a non-GAAP operating margin of 3 percent compared to 3 billion Chinese yuan for the third quarter of 2019 with a non-GAAP operating margin of 2.2 percent.

Picture: JD.com media resources