Chinese e-commerce firm JD.com's quarterly revenue up 38 percent

Reuters News
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Posted: Nov 15, 2016 5:31 AM

(Reuters) - JD.com Inc <JD.O>, China's second-largest e-commerce firm, said on Tuesday its third-quarter revenue grew 38 percent from a year ago, slightly ahead of analysts' expectations.

The rise, along with fourth-quarter predictions that could potentially end a recent trend of slowing quarterly growth, sent the company's shares higher in pre-market trading.

JD.com said revenue for the three months ended September was 60.7 billion yuan ($8.86 billion), just beating an average estimate of 60.2 billion yuan, according to a survey of 15 analysts by Thomson Reuters.

JD.com in August forecast third-quarter revenue of 59-61 billion yuan, amid concerns that China's retail sector would be hit by a slowing economy.

JD.com's shares rose as much as five percent in pre-market trading.

The company's net loss for the quarter expanded to 807.9 million yuan from 534.9 million yuan a year earlier.

It predicts fourth quarter revenue of 75-77.5 billion yuan, which represents a stable or increased growth rate of 37-42 percent.

JD.com made a net loss of 0.64 yuan ($0.10) per American Depository Share in the third quarter, compared with a loss of 0.39 yuan a year earlier.

The company recorded 158.8 billion yuan in gross merchandise value (GMV) for the third quarter, up 43 percent from the same period in 2015.

(Reporting by Cate Cadell; Editing by Muralikumar Anantharaman and Mark Potter)