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JD.com's Q1 revenues increase by 18 percent

By Prachi Singh

17 May 2022

Business

Image: JD.com

JD.com, Inc. net revenues for the first quarter of 2022 were 239.7 billion Chinese yuan (137.8 billion dollars), an increase of 18 percent from the first quarter of 2021.

Net service revenues for the quarter were 35.2 billion Chinese yuan (5.6 billion dollars), an increase of 26.3 percent from the first quarter of 2021.

“JD.com’s robust supply chain capabilities and technology-driven operating efficiency underpinned our solid performance during the quarter as we continued to deliver healthy growth amidst a challenging external environment,” said Lei Xu, CEO of JD.com in a statement.

Income from operations reached 2.4 billion Chinese yuan (0.4 billion dollars) compared to 1.7 billion Chinese yuan for the same period last year. Non-GAAP income from operations increased by 32.8 percent to 4.7 billion Chinese yuan (0.7 billion dollars.

Net loss was 3 billion Chinese yuan (0.5 billion dollars) compared to a net income of 3.6 billion dollars for the same period last year. Non-GAAP net income was 4 billion Chinese yuan (0.6 billion dollars) compared to 4 billion Chinese yuan for the same period last year.

Diluted net loss per ADS was 1.92 Chinese yuan (30 cents) compared to a diluted net income per ADS of 2.25 Chinese yuan for the first quarter of 2021. Non-GAAP diluted net income per ADS was 2.53 Chinese yuan (40 cents) compared to 2.47 Chinese yuan for the same period last year.

The company’s annual active customer accounts increased by 16.2 percent to 580.5 million in the twelve months ended March 31, 2022 from 499.8 million in the twelve months ended March 31, 2021.

JD.COM