JD.com Reports Lower Earnings In Q2, While Revenue Rises

Chinese e-commerce platform JD.com, Inc. (JD) on Monday reported net income in the second quarter of RMB794.27 million or $123.02 million, lower than RMB16.446 billion for the same period last year, impacted by higher expenses.

Net income per ADS for the second quarter was RMB0.50 or $0.08, compared with RMB10.47 for the second quarter of last year.

Excluding items, net income was RMB4.6 billion or $0.7 billion, compared with RMB5.9 billion a year ago.

Adjusted earnings for the quarter were $0.45 per share

Revenues for the quarter increased 26.2% year-over-year to RMB253.8 billion or $39.3 billion, helped by growth in service as well as product revenue.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.35 per share on revenue of $249.69 billion for the period. Analysts' estimates typically exclude special items.

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