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JD.com Q3 net revenues jump 25 percent

By Prachi Singh

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Business

JD.com, Inc., China’s e-commerce company and retail infrastructure service provider, reported net revenues for the third quarter of 104.8 billion Chinese yuan (215.3 billion dollars), an increase of 25.1 percent from the third quarter of 2017, while the company’s net service revenues were 10.9 billion Chinese yuan (1.6 billion dollars), an increase of 49.4 percent from the third quarter of 2017. The company expects net revenues for the fourth quarter to be between 130 billion and 135 billion Chinese yuan, representing a growth rate between 18 percent and 23 percent compared with the fourth quarter of 2017.

“We are pleased to report solid results for the third quarter, with our core JD Mall business driving consistent growth under its highly experienced management team,” said Richard Liu, Chairman and CEO of JD.com in a statement, adding, “Our ‘Retail as a Service’ strategy is also gaining traction as we provide a wide range of partners with innovative retail infrastructure solutions.”

Operating margin of JD Mall before unallocated items for the third quarter was 2.2 percent compared to 2.3 percent for the same period last year. The company said, net income from continuing operations attributable to ordinary shareholders was 3 billion Chinese yuan (0.4 billion dollars) compared to 1 billion Chinese yuan for the same period last year. Non-GAAP net income was 1.2 billion Chinese yuan (0.2 billion dollars) compared to 2.2 billion Chinese yuan for the same period last year.

Diluted net income per ADS from continuing operations, the company added, was 2.03 Chinese yuan (0.30 dollar) compared to 0.69 Chinese yuan for the third quarter of 2017, while non-GAAP diluted net income per ADS from continuing operations was 0.80 Chinese yuan (0.12 dollar) compared to 1.52 Chinese yuan for the same quarter last year.

JD.com’s annual active customer accounts increased to 305.2 million in the twelve months ended September 30, 2018 from 266.3 million in the twelve months ended September 30, 2017.

Picture:Facebook/JD.com

JD.com