JD.com Inc. (JD) reported better-than-expected revenue for the fourth quarter of 2018, sending shares soaring by 11.2% during premarket hours on Thursday.
Net revenues totaled RMB134.8 billion ($19.6 billion), up 22.4% from last year. Net product revenues grew by 20.1% while net service revenues rose by 45.7% year-over-year.
GAAP net loss from continuing operations attributable to ordinary shareholders was RMB4.8 billion ($0.7 billion) compared to RMB0.9 billion in the prior-year period. Adjusted net income from continuing operations attributable to ordinary shareholders amounted to RMB749.9 million ($109.1 million) compared to RMB449.3 million last year.
GAAP net loss per ADS from continuing operations was RMB3.32 ($0.48) versus RMB0.64 last year. Adjusted net income per ADS from continuing operations was RMB0.51 ($0.07) compared to RMB0.31 last year.
Annual active customer accounts increased to 305.3 million during the year ended December 31, 2018 from 292.5 million in the comparable period last year. Quarterly active customer accounts in the fourth quarter rose 20% compared to the same period last year.
As of the end of the fourth quarter, JD.com’s joint venture, Dada-JD Daojia, had partnered with more than 100,000 stores from top supermarket brands including Walmart and Carrefour. JD.com had over 210,000 merchants on its online marketplace as of December 31, 2018.
Net revenues for the first quarter of 2019 are expected to grow 18-22% year-over-year to between RMB118 billion and RMB122 billion.