JD.com’s Q4 revenues increase by 31.4 percent

Net revenues at JD.com for the fourth quarter of 2020 were 224.3 billion Chinese yuan (134.4 billion dollars), an increase of 31.4 percent from the fourth quarter of 2019. The company said, net service revenues were 32.1 billion Chinese yuan (4.9 billion dollars), an increase of 53.2 percent. The company’s net revenues for the full year were 745.8 billion Chinese yuan (114.3 billion dollars), an increase of 29.3 percent, while net service revenues were 93.9 billion Chinese yuan (14.4 billion dollars), an increase of 42 percent from the full year of 2019.

“JD saw accelerated revenue and user growth during the fourth quarter driven by our long-term operating philosophy and customer-centric value proposition despite the ongoing market challenges,” said Richard Liu, Chairman and Chief Executive Officer of JD.com.

Review of JD.com’s Q4 and full year results

Income from operations for the fourth quarter was 594.9 million Chinese yuan (91.2 million dollars) compared to 529.5 million Chinese yuan for the same period last year. Non-GAAP income from operations was 1,213.5 million Chinese yuan (186 million dollars) compared to 704 million Chinese yuan for the fourth quarter of 2019. Income from operations for the full year was 12.3 billion Chinese yuan (1.9 billion dollars) compared to 9 billion Chinese yuan for the full year of 2019, while non-GAAP income from operations was 15.3 billion Chinese yuan (2.4 billion dollars) with a non-GAAP operating margin of 2.1 percent compared to 8.9 billion Chinese yuan for the full year of 2019 with a non-GAAP operating margin of 1.5 percent.

Net income attributable to ordinary shareholders for the fourth quarter was 24.3 billion Chinese yuan (3.7 billion dollars), compared to 3.6 billion Chinese yuan for the same period last year, while non-GAAP net income attributable to ordinary shareholders increased by 194 percent to 2.4 billion Chinese yuan (0.4 billion dollars) from 0.8 billion Chinese yuan for the same period last year. Net income attributable to ordinary shareholders for the full year was 49.4 billion Chinese yuan (7.6 billion dollars) compared to 12.2 billion Chinese yuan for the full year of 2019, while non-GAAP net income was 16.8 billion Chinese yuan (2.6 billion dollars) compared to 10.7 billion Chinese yuan for the full year of 2019.

Diluted net income per ADS for the quarter was 15.18 Chinese yuan (2.33 dollars) compared to 2.44 Chinese yuan for the fourth quarter of 2019, while non-GAAP diluted net income per ADS was 1.49 Chinese yuan (23 cents) compared to 0.54 Chinese yuan for the same period last year. Diluted net income per ADS for the full year was 31.68 Chinese yuan (4.86 dollars) compared to 8.21 Chinese yuan for the full year of 2019, while non-GAAP diluted net income per ADS was 10.56 Chinese yuan (1.62 dollars) compared to 7.25 Chinese yuan for the full year of 2019.

Annual active customer accounts3 increased by 30.3 percent to 471.9 million in 2020 from 362.0 million in 2019.

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