JD.com delivers 40.3 percent net revenue growth in FY17

Friday, March 2 2018

JD.com delivers 40.3 percent net revenue growth in FY17

| Friday, 02 March 2018
China’s online major, JD.com, Inc’s fourth quarter net revenues reached 110.2 billion Chinese yuan (216.9 billion dollars), an increase of 38.7 percent compared to the fourth quarter of 2016. Net revenues for the full year were 362.3 billion Chinese yuan (55.7 billion dollars), an increase of 40.3 percent from the full year of 2016. Gross profit for the quarter was 14.4 billion Chinese yuan (2.2 billion dollars), while full year gross profit was 50.8 billion Chinese yuan (7.8 billion dollars), an increase of 43.7 percent from the full year of 2016. Non-GAAP gross profit was 50 billion Chinese yuan (7.7 billion dollars), an increase of 44.7 percent against 2016.
"Our unmatched online shopping experience continued to reshape Chinese e-commerce, win over consumers and drive robust growth in 2017," said Richard Liu, Chairman and CEO of JD.com in a statement, adding, "As we implement our vision of 'boundaryless retail,' we are working with top industry players to build China's most advanced and comprehensive retail ecosystem to reach consumers wherever and whenever they shop." Q4 net loss at JD.com reduces by 27.9 percent
Revenues from services and others for the fourth quarter were 10 billion Chinese yuan (1.5 billion dollars), a rise of 54.7 percent. Revenues from services and others increased by 49.9 percent in 2017.
Net loss from continuing operations attributable to ordinary shareholders for the quarter was 909.2 million Chinese yuan (139.7 million dollars), a decrease of 27.9 percent from 1,261.4 million Chinese yuan net loss for the same period last year. Non-GAAP net income from continuing operations was 449.3 million Chinese yuan (69.1 million dollars), compared to 779.7 million Chinese yuan for the same period last year.
Net income from continuing operations attributable to ordinary shareholdersfor the full year was 116.8 million Chinese yuan (18 million dollars), compared to 2 billion Chinese yuan for the full year of 2016. Non-GAAP net income from continuing operations attributable to ordinary shareholders was 5 billion Chinese yuan (0.8 billion dollars), an increase of 140 percent from the full year of 2016.
Diluted net loss per ADS from continuing operations for the fourth quarter was 0.64 Chinese yuan (0.10 dollars), compared to 0.89 Chinese yuan (0.14 dollar) for the fourth quarter of 2016. Non-GAAP diluted net income per ADS from continuing operations was 0.31 Chinese yuan (0.05 dollar), compared to 0.54 Chinese yuan (0.09 dollar) for the same quarter last year. Diluted net income per ADS from continuing operations for the full year was 0.08 Chinese yuan (0.01 dollar), compared to 1.43 Chinese yuan (0.23 dollar) for the full year of 2016. Non-GAAP diluted net income per ADS from continuing operations for the year was 3.41 Chinese yuan (0.52 dollar) compared to 1.45 Chinese yuan (0.23 dollar) in the full year of 2016.
The company said, annual active customer accounts increased by 29.1 percent to 292.5 million in the twelve months ended December 31, 2017 from 226.6 million in the twelve months ended December 31, 2016.
"We are very pleased to report another quarter of strong top line growth, as well as record full year profitability in 2017," added Sidney Huang, JD.com's Chief Financial Officer.
The company expects net revenues for the first quarter of 2018 to be between 98 billion Chinese yuan (15.4 billion dollars) and 100 billion Chinese yuan (15.7 billion dollars), representing a growth rate between 30 percent and 33 percent compared with the first quarter of 2017, excluding the impact from JD Finance for the 2017 period.
Picture:JD.com website