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JD.com Q1 net revenues up 41 percent

By Prachi Singh

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Management

GMV from the online direct sales business at JD.com was 107.9 billion Chinese yuan (15 billion dollars) in the first quarter of 2017, up 42 percent from the first quarter of 2016. JD.com reported net revenues of 76.2 billion Chinese yuan (11.1 billion dollars), were up 41 percent.

"The strong results across the board reflect that the Chinese market is embracing our model of a high-quality online shopping experience," said Richard Liu, Chairman and CEO of JD.com in a media release, adding, " Looking forward, we are focused on further enhancing our customer experience, while leveraging the capabilities of our platform to serve the needs of a broader business ecosystem."

Review of the first quarter trading

GMV from the online marketplace business was 76.2 billion Chinese yuan (11 billion dollars), an increase of 43 percent, while GMV from general merchandise and others was 91.5 billion Chinese yuan (13 billion dollars), an increase of 48 percent.

Net revenues from online direct sales increased by 40 percent, while net revenues from services and others increased by 62 percent in the first quarter of 2017, as compared to the first quarter of 2016. Net revenues excluding JD Finance increased by 40 percent to 75.2 billion Chinese yuan (10 billion dollars).

Income from operations was 843.1 million Chinese yuan (122.5 million dollars), compared to loss from operations of 864.9 million Chinese yuan (125.2 million dollars) for the same period last year. Non-GAAP income from operations was 1.7 billion Chinese yuan (0.2 billion dollars) with a non-GAAP operating margin of 2.2 percent, as compared to non-GAAP loss from operations of 295.7 million Chinese yuan (42 million dollars) in the first quarter of 2016.

Non-GAAP EBITDA totalled 2.2 billion Chinese yuan (0.3 billion dollars) with a non-GAAP EBITDA margin of 2.9 percent, compared to 0.1 billion Chinese yuan (0.01 billion dollars) with a non-GAAP EBITDA margin of 0.2 percent for the first quarter of 2016.

Net income was 355.7 million Chinese yuan (51.7 million dollars), compared to net loss of 867.3 million Chinese yuan (125 million dollars) for the same period last year. Non-GAAP net income was 1.4 billion Chinese yuan (0.2 billion dollars), as compared to non-GAAP net loss of 0.2 billion Chinese yuan (0.03 billion dollars) in the first quarter of 2016.

Expects Q2 revenue growth between 35 to 39percent

Net revenues for the second quarter of 2017 are expected to be between 88 billion and 90.5 billion Chinese yuan (12 to 13 billion dollars), representing a growth rate between 35 percent and 39 percent compared with the second quarter of 2016. Net revenues excluding JD Finance for the quarter are expected to be between 86.6 billion and 89.1 billion Chinese yuan (12 to 12.9 billion dollars), representing a growth rate between 33 percent and 37 percent compared with the second quarter of 2016.

Picture:JD.com website

JD.com