JD.com reports first operating profit
May 15, 2017 Category Retail, Weekly
JD.com, China’s second-largest e-commerce company, said its first-quarter operating profit was CNY1.7 billion, reversing a net loss of CNY295.7 million a year earlier, as revenue grew strongly from direct sales as well as services for merchants and suppliers. JD.com’s gross merchandising volume (GMV) surged 42% from a year ago to CNY184.1 billion, as revenue, excluding JD Finance, jumped 39.8% to CNY75.2 billion. “The strong results across the board reflect that the Chinese market is embracing our model of a high-quality online shopping,” Richard Liu, Chairman and CEO of JD.com, said. GMV from general merchandise and others totaled CNY91.5 billion, up 48% from a year ago – faster than the GMV growth of 37% from electronics and home appliances. JD.com expects second-quarter revenue at between CNY88 billion and CNY90.5 billion, or an annual growth rate of 35% to 39% from a year earlier.
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