Close

JD.Com's Q2 2019 Financial Report Crushes Analysts' Expectations

August 13, 2019 9:32 pm

Beijing (PingWest)—On Tuesday, China e-commerce giant JD.com announced its unaudited financial results for the quarter ended June 30, 2019. The company swung to net income of CNY 618.8 million (USD 90.14 million), or CNY 0.36 a share, from a loss of CNY 2.21 billion a year ago. Excluding non-recurring items, adjusted EPS was CNY 2.30, or 33 cents in U.S. dollars, which beat the average analyst estimate of 6 cents, according to FactSet. 

Net revenues for the second quarter of 2019 were CNY150.3 billion (USD 121.9 billion), representing a 22.9% increase from the same period in 2018.

Income from operations for the second quarter of 2019 was CNY 2,266.6 million (USD 330.2 million), compared to loss from operations of RMB1,033.9 million for the same period last year.

Marketing expenses increased by 6.8% to CNY 5.6 billion (USD 0.8 billion) in the second quarter of 2019 from CNY 5.3 billion in the second quarter of 2018. 

Technology and content expenses increased by 34.0% to CNY 3.7 billion (USD 0.5 billion) in the second quarter of 2019 from CNY 2.8 billion in the second quarter of 2018 as a result of the company's continued investment in top R&D talent and technology infrastructure.

Annual active customer accounts increased to 321.3 million in the twelve months ended June 30, 2019, from 310.5 million in the twelve months ended March 31, 2019.

"Highlighted by our successful June 18th anniversary sales event, JD.com's strong performance in the second quarter further demonstrated the resilience of our superior business model in a highly competitive industry," Chief Executive Richard Liu said.

He added, "JD.com's commitment to bringing users the best overall shopping experience continues to win over consumer mindshare. We will remain focused on leveraging technology and innovation to enhance our offerings, increase efficiency and drive shareholder value for the long term."

Source: JD.com