- Prachi Singh |
In its unaudited financial results for the quarter ended September 30, 2017, JD.com said that net revenues for the quarter were 83.7 billion Chinese yuan (12.6 billion dollars), an increase of 39.2 percent from the third quarter of 2016. Gross profit increased 50.3 percent to 13 billion Chinese yuan (2 billion dollars), while non-GAAP gross profit was 12.8 billion Chinese yuan (1.9 billion dollars), an increase of 51.9 percent from the same quarter last year.
"We are achieving our mission of bringing China's consumers the widest selection of top brands and, by far, the highest quality e-commerce experience," said Richard Liu, Chairman and CEO of JD.com in a statement.
Highlights of JD.com’s third quarter
Net income from continuing operations attributable to ordinary shareholders was 1 billion Chinese yuan (0.2 billion dollars), compared to a net loss of 0.5 billion Chinese yuan for the same period last year. Non-GAAP net income from continuing operations attributable to ordinary shareholders was 2.2 billion Chinese yuan (0.3 billion dollars), an increase of 359 percent from the third quarter of 2016.
Diluted net income per ADS from continuing operations was 0.69 Chinese yuan (0.10 dollar), compared to diluted net loss per ADS from continuing operations of 0.32 Chinese yuan for the third quarter of 2016. Non-GAAP diluted net income per ADS from continuing operations was 1.52 Chinese yuan (0.23 dollar), as compared to 0.33 Chinese yuan in the third quarter of 2016.
"We are very encouraged to see another quarter of solid top line growth with record profitability," said Sidney Huang, JD.com's Chief Financial Officer.
Q4 net revenues expected to increase between 35 to 39 percent
Net revenues for the fourth quarter of 2017 are expected to be between 107 billion Chinese yuan (16 million dollars) and 110 billion Chinese yuan (16.5 billion dollars), representing a growth rate between 35 percent and 39 percent compared with the fourth quarter of 2016, excluding the impact from JD Finance for both 2017 and 2016 periods.
The company said, annual active customer accounts increased by 34 percent to 266.3 million in the twelve months ended September 30, 2017 from 198.7 million in the twelve months ended September 30, 2016.