- Prachi Singh |
JD.com, Inc., China's leading technology driven e-commerce company and retail infrastructure service provider, reported net revenues of 100.1 billion Chinese yuan (216 billion dollars), an increase of 33.1 percent, for the first quarter of 2018. Net service revenues were 8.6 billion Chinese yuan (1.4 billion dollars), an increase of 60 percent from the first quarter of 2017.
"Our core e-commerce business performed very well in the first quarter, as consumers continue to migrate to our model of convenient and trusted retail," said Richard Liu, Chairman and CEO of JD.com in a media statement, adding, “We will continue to focus on building our technology capabilities to further enhance our customer experience and deepen the strength of our infrastructure."
Highlights of JD.com’s first quarter performance
Operating margin of JD Mall before unallocated items was 2.1 percent compared to 2.2 percent for the same period last year. Net income from continuing operations attributable to ordinary shareholders was 1,524.9 million Chinese yuan (243.1 million dollars), compared to 298.8 million Chinese yuan (46.9 million dollars) for the same period last year. Non-GAAP net income was 1,047.4 million Chinese yuan (167 million dollars) compared to 1,321.9 million Chinese yuan (207.5 million dollars) for the same period last year.
Diluted net income per ADS from continuing operations was 1.04 Chinese yuan (0.17 dollar), compared to 0.21 Chinese yuan (0.033 dollar) for the first quarter of 2017. Non-GAAP diluted net income per ADS was 0.71 Chinese yuan (0.11 dollar) compared to 0.92 Chinese yuan (0.14 dollar) for the same quarter last year. Annual active customer accounts increased by 27.6 percent to 301.8 million in the twelve months ended March 31, 2018.
In the first quarter of 2018, JD saw strong revenue growth and maintained a healthy balance between profitability and investing for the future. We are making rapid progress in boundary-less retail innovations while expanding JD's advanced nationwide fulfillment network to bring value to a wide range of brands and industry players," added Sidney Huang, JD.com's Chief Financial Officer.
The company said, net revenues for the second quarter of 2018 are expected to be between 120 billion and 124 billion Chinese yuan (18.8 and 19.4 billion dollars), representing a growth rate between 29 percent and 33 percent compared with the second quarter of 2017, excluding the impact from JD Finance for the 2017 period.
Picture:JD.com media resource centre