JD.com Inc. (JD) beat analysts’ expectations on earnings for the third quarter of 2018 but revenue came in shy of estimates. The consensus estimate was for adjusted EPS of $0.08 on revenue of $15.6 billion. The stock was down 3.6% during pre-market hours on Monday.
Net revenues grew 25.1% to 104.8 billion yuan ($15.3 billion) from the same period last year. Net product revenues grew 22.8% while net service revenues rose 49.4% year-over-year.
On a GAAP basis, net income from continuing operations attributable to ordinary shareholders was 3 billion yuan ($0.4 billion) compared to 1 billion yuan last year. Adjusted net income was 1.2 billion yuan ($0.2 billion) compared to 2.2 billion yuan last year.
GAAP diluted earnings per American depositary share were 2.03 yuan ($0.30) versus 0.69 yuan last year. Adjusted earnings per ADS were 0.80 yuan ($0.12) versus 1.52 yuan last year.
During the quarter, annual active customer accounts increased to 305.2 million from 266.3 million last year. The company saw an increase in expenses due to investments in various aspects of the business such as technology infrastructure.
For the fourth quarter of 2018, net revenues are expected to grow 18-23% to a range of 130 billion yuan to 135 billion yuan versus the same period last year.
Earnings Preview: Diversified growth key to JD.com in third quarter
During the third quarter, JD.com partnered with fashion giant Ruyi to provide technology and infrastructure solutions covering smart logistics, inventory management and marketing.
In August, the company’s JV Dada-JD Daojia completed a new $500 million financing round with investments from Walmart and JD. Dada-JD Daojia has partnered with several supermarkets and grocery stores including Walmart and Carrefour to provide a seamless online grocery shopping experience with one-hour home delivery service.
JD.com’s competitor Alibaba (BABA) reported second-quarter 2019 results earlier this month in which the company topped earnings estimates but missed the mark on revenue.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the
