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JD.com: Q4 revenues witness a rise of 22.4 percent

By Prachi Singh

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Management

JD.com, China’s e-commerce company and retail infrastructure service provider, in its unaudited financial results for the quarter and full year ended December 31, 2018 said that net revenues for the quarter of 134.8 billion Chinese yuan (219.6 billion dollars), increased by 22.4 percent, while net service revenues were 14.6 billion Chinese yuan (2.1 billion dollars), an increase of 45.7 percent from the fourth quarter of 2017. Net revenues for the full year of 2018 were 462 billion Chinese yuan (67.2 billion dollars), an increase of 27.5 percent, while net service revenues were 45.9 billion Chinese yuan (6.7 billion dollars), an increase of 50.5 percent against 2017.

“In the fourth quarter of 2018, JD.com continued to outperform the industry across our key product categories. Our investments in technology enhanced the customer experience and enabled greater operating efficiency,” said Richard Liu, Chairman and CEO of JD.com in a statement.

JD.com’s Q4 and full year net loss widens

The company’s operating margin of JD Mall before unallocated items for the fourth quarter was 1.1 percent compared to 0.6 percent for the same period last year. For the full year, operating margin was 1.6 percent compared to 1.4 percent for the full year of 2017.

Net loss from continuing operations attributable to ordinary shareholders for the fourth quarter was 4.8 billion Chinese yuan (0.7 billion dollars), compared to 0.9 billion Chinese yuan for the same period last year, while non-GAAP net income was 749.9 million Chinese yuan (109.1 million dollars), compared to 449.3 million Chinese yuan for the same period last year.

Net loss from continuing operations attributable to ordinary shareholders for the full year of 2018 was 2.5 billion Chinese yuan (0.4 billion dollars), compared to a net income from continuing operations attributable to ordinary shareholders of 116.8 million Chinese yuan for the full year of 2017. Non-GAAP net income from continuing operationsattributable to ordinary shareholders for 2018 was 3.5 billion Chinese yuan (0.5 billion dollars), compared to 5 billion Chinese yuan for the full year of 2017.

Diluted net loss per ADS from continuing operations for the fourth quarter was 3.32 Chinese yuan (48 cents), compared to 0.64 Chinese yuan for the fourth quarter of 2017, while non-GAAP diluted net income per ADS from continuing operations was 0.51 Chinese yuan (7 cents), compared to 0.31 Chinese yuan for the same quarter last year. Diluted net loss per ADS from continuing operations for the full year was 1.73 Chinese yuan (25 cents), compared to 0.08 Chinese yuan for the full year of 2017, while non-GAAP diluted net income per ADS from continuing operations was 2.35 Chinese yuan (34 cents) compared to 3.41 Chinese yuan in the full year of 2017.

Annual active customer accounts increased to 305.3 million in the twelve months ended December 31, 2018 from 292.5 million in the twelve months ended December 31, 2017 and quarterly active customer accounts in the fourth quarter and third quarter, increased by 20 percent and 22 percent, as compared to the same periods in 2017, respectively.

JD.com expects net revenues for the first quarter of 2019 to be between 118 billion Chinese yuan and 122 billion Chinese yuan, representing a growth rate between 18 percent and 22 percent compared with the first quarter of 2018.

Picture:JD.com media resources

JD.com