China's JD.com posts 62 pct rise in quarterly revenue (updated)
08/05/2015 10:10
(Adds details)
May 8 (Reuters) - JD.com Inc JD.O , China's No.2 e-commerce
company, reported a 62 percent rise in quarterly revenue,
topping analysts' expectation as the number of active customer
accounts across its sites nearly doubled from a year earlier.
First-quarter revenue of 36.6 billion yuan ($5.90 billion)
exceeded analysts' estimate of 35.65 billion yuan, according to
Thomson Reuters I/B/E/S.
Gross merchandise volume (GMV), or the total value of goods
sold on JD.com, nearly doubled to 87.8 billion yuan ($14.14
billion) in the quarter ended March, with roughly 42 percent of
all fulfilled orders coming from mobile devices, the company
said.
Excluding certain items, losses widened to 2 cents per
American depositary share, from 1 cent, as it spent heavily to
broaden its inventory and on marketing.
The Beijing-based company's business, like bigger U.S. peer
Amazon.com Inc's AMZN.O , is built on selling products it
purchases through its own logistics network. Alibaba Group
Holding Ltd BABA.N , on the other hand, has grown its business
quickly by connecting sellers to buyers rather than stocking its
own merchandise.
The difference in business models has allowed JD.com to
market itself as a purveyor of authentic goods, while its larger
rival has wrestled with occasional, high-profile controversies
over fake products.
When JD.com announced in April that it would sell and
warehouse clothes from Japanese giant Uniqlo, the e-tailer
touted the deal as an example of its growing ability to offer
customers mainstream labels and authentic clothes.
JD.com last month launched its JD Worldwide cross-border
online shopping platform, a challenger to Alibaba's Tmall Global
service. ID:nL4N0XC1UY
It also announced on Friday its participation in a $500
million investment in Tuniu Corp TOUR.O urn:newsml:reuters.com:*:nL4N0XZ56I.
The company's U.S.-listed shares have risen close to 60
percent since its IPO last May.
($1 = 6.2089 Chinese yuan renminbi)
(Reporting by Gerry Shih and Paul Carsten; Editing by
Subhranshu Sahu)
((Gerry.Shih@thomsonreuters.com; +86 133 0137 8331;))
Keywords: JD.COM RESULTS/