JD.com Inc. (NASDAQ: JD) has reported a modest increase in first-quarter revenues. Meanwhile, adjusted earnings of the China-based e-commerce firm rose sharply during the period.
Adjusted profit climbed 88% annually $0.69 per ADS during the first quarter. On an unadjusted basis, the net profit was $912 million or $0.57 per ADS, compared to a loss in the prior-year quarter.
At $35.4 billion, first-quarter revenues were up 1% from the corresponding period of 2022. At the end of the quarter, JD.com had around 590 million active customer accounts.
“JD.com has built China’s most trusted brand in retail and is uniquely positioned to provide our loyal user base with
the superior quality, value, speed, and selection they have come to expect while maintaining the flexibility to seize upon multiple growth opportunities across our businesses,” said Lei Xu, CEO of JD.com.