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JD.com Beats Estimates With 28% Revenue Growth in 3rd Quarter

By Han Wei / Nov 16, 2019 04:12 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese e-commerce giant JD.com reported 28% growth in third-quarter revenue to 134.8 billion yuan ($19.27 billion), beating analysts’ estimates of 128.6 billion yuan.

Non-GAAP net income attributable to ordinary shareholders rose 160.6% to 3.1 billion yuan in the quarter from 1.2 billion yuan a year ago, according to the unaudited financial report released Friday.

The upbeat results were marked by accelerating revenue growth and record operating profit margin, said Sidney Huang, chief financial officer of JD.com.

“Looking forward, we will increasingly benefit from the economies of scale inherent in JD’s unique business model through our leading supply chain, technology and service capabilities,” Huang said.

“We will continue to invest in technology and innovation to meet the growing needs of Chinese consumers and businesses for fast and reliable e-commerce and supply chain solutions,” said Richard Liu, chairman and chief executive officer.

JD.com had 334.4 million annual active customers at the end of September, up 4% from 321.3 million as of June 30, the company said.

JD.com’s Nasdaq-listed shares rose nearly 6.5% in pre-market trading following the report.

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