JD.com's revenues jump 28.7% to $18.9B in Q3

Friday, 15. November 2019 11:27

Chinese e-commerce giant JD.com Inc. said on Friday its revenues jumped 28.7% year on year to $18.9 billion in the third quarter of 2019, thus topping analysts' estimates. Net income attributable to ordinary shareholders plunged 80% to $85.6 million compared to the same period a year ago, while diluted earnings per share amounted to $0.06%. Meanwhile, adjusted net income soared 160% to $431.7 million).

The number of annual active customer accounts reached 334.4 million in the year through September, up by 13.1 million compared to the 12 months through June, the results showed. Meanwhile, operating cash flow rose to $4.3 billion.

"JD’s commitment to providing consumers with the best possible online shopping experience drove another strong quarter of growth," CEO Richard Liu stated. "In particular, more and more consumers in China’s fast-growing lower-tier cities are turning to JD for our superior value and service. 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," he added.

JD.com's shares surged 5.75% in premarket trading on better-than-expected results.

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Breaking the News / NP