JD.com tops estimates as revenue soars
Print Edition
CHINA’S JD.com Inc, the biggest e-commerce rival to Alibaba Group Holding Ltd, posted a 73 percent rise in revenue for the three months through December, topping estimates as it expanded sales across more consumer goods categories.
Revenue for JD.com’s fourth quarter rose to US$5.6 billion versus the US$5.3 billion average estimate of 13 analysts surveyed by Thomson Reuters.
The Beijing-based company yesterday said it expected revenue of between 34.8 billion yuan (US$5.5 billion) and 35.8 billion in the first quarter of 2015.
The company moved more goods than ever during the fourth quarter, which included the annual Chinese shopping extravaganza known as Singles Day, with gross merchandise value reaching 85.8 billion yuan, an increase of 119 percent.
Excluding certain items such as stock-based compensation expenses, JD.com recorded a profit of 83.8 million yuan, with a margin of 0.2 percent, in line with what executives had forecast.
JD.com runs second place to Alibaba in China, with little love lost between the two companies’ founders.
Its business, like Amazon.com, is built on selling products it purchases through its own logistics network; Alibaba by contrast has grown its business quickly by connecting sellers to buyers rather than stocking its own merchandise.
JD.com, which has sought to differentiate itself by touting the authenticity of its products, said it is pushing into categories beyond its traditional stronghold of consumer electronics.
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