JD.com Inc.’s (NASDAQ: JD) shares jumped 8.6% in premarket hours on Friday after the company topped analysts’ forecasts on revenue and earnings for the first quarter of 2019.
Net revenues totaled RMB121.1 billion ($18 billion), up nearly 21% year-over-year. Net product revenues grew by 18.7%, while net service revenues rose 44%.
Net income attributable to ordinary shareholders was RMB7.3 billion ($1.1 billion) compared to RMB1.5 billion last year. Adjusted net income attributable to ordinary shareholders was RMB3.3 billion ($0.5 billion), up 215% compared to the year-ago period.
Diluted net income per ADS was RMB4.96 ($0.74) versus RMB1.04 last year. Adjusted net income per ADS was RMB2.23 ($0.33) versus RMB0.71 last year.
Quarterly active customer accounts rose by 15% versus the year-ago period. Annual active customer accounts increased to 310.5 million in the twelve months ended March 31, 2019 from 305.3 million in the twelve months ended December 31, 2018.
As of April 30, 2019, JD.com’s joint venture, Dada-JD Daojia, had partnered with over 270 Walmart stores, over 700 Yonghui stores, over 180 Carrefour stores and over 1,000 CR Vanguard stores, as well as other leading supermarket brands, to provide an integrated omnichannel shopping experience through Dada’s crowd-sourcing delivery network.
JD.com had over 220,000 merchants on its online marketplace, and over 179,000 full-time employees as of March 31, 2019.
For the second quarter of 2019, net revenues are expected to grow 19-23% to a range between RMB145 billion and RMB150 billion.