JD.com posts Q3 profit growth

JD.com net revenues for the third quarter were 247.7 billion Chinese yuan (134 billion dollars), an increase of 1.7 percent from the third quarter of 2022.

The company’s income from operations rose to 9.3 billion Chinese yuan (1.3 billion dollars) and non-GAAP income from operations increased to 11.1 billion Chinese yuan (1.5 billion dollars).

“We reported steady top-line performance for the quarter with record profitability driven by our proactive efforts on enhancing price competitiveness and platform ecosystem, as well as our supply chain advantages,” said Sandy Xu, chief executive officer of JD.com in a statement.

The company said, operating margin of JD Retail remained flat at 5.2 percent.

Third quarter net income increased to 7.9 billion Chinese yuan (1.1 billion dollars) and non-GAAP net income reached 10.6 billion Chinese yuan (1.5 billion dollars).

Diluted net income per ADS increased to 5 Chinese yuan (69 cents) and non-GAAP diluted net income per ADS for the quarter under review was 6.70 Chinese yuan (92 cents).

“We continue to be encouraged by the progress we are making, as evidenced by further expanded merchant base and improved user shopping behaviour,” Xu added.