JD.com sees 47% rise in Q1 revenue
Print Edition
JD.COM Inc, China’s No. 2 e-commerce company, reported a 47 percent rise in first-quarter revenue yesterday, as sales on its platforms surged.
JD.com also said it expects revenue for the second quarter to be between 64.2 billion yuan (US$9.9 billion) and 66.2 billion yuan, a growth rate of 40 percent to 44 percent.
The amount of goods sold on JD.com’s platforms — or gross merchandise volume — rose 55 percent to 129.3 billion yuan.
The Beijing-based company’s executives have repeatedly flagged China’s slowing economic growth as a potential concern, especially if consumption in the world’s second-largest economy takes a hit.
China’s economic growth slowed to 6.7 percent in the first quarter — the weakest since the global financial crisis.
JD.com said yesterday that its net revenue rose to 53.97 billion yuan in the first quarter, from 36.64 billion yuan a year earlier. The net loss attributable to shareholders widened to 909.8 million yuan from 710.2 million yuan as marketing expenses jumped about 50 percent in the quarter.
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