JD.com, Inc. (NASDAQ: JD) reported its financial results for the quarter ended March 31, 2020, on Friday before the market opens. The results exceeded analysts’ expectations.
The top-line jumped by 21% driven by higher sales of general merchandise products and an increase in service revenues. The company’s resilient business model helped drive solid results for the quarter that exceeded JD.com’s expectations and the acceleration of the increase in user engagement, demonstrating a strengthened brand image, and expanded consumer mindshare.
Looking ahead into the second quarter of 2020, the company expects net revenue in the range of RMB180-195 billion, representing a growth rate of 20-30% compared with the second quarter of 2019. This forecast reflects JD.com’s current and preliminary expectations, which assumes the COVID-19 situation would not have any significant unexpected disruption to its operations in the remainder of the second quarter.