NEW YORK (TheStreet) -- Shares of JD.com (JD) are down 5.07% to $25.64 after reporting 2014 third quarter results of $4.7 billion in revenue that beat expectations, while reporting a $26.8 million net loss due to "amortization of intangible assets resulting from assets and business acquisitions related to the Tencent Holdings Ltd. strategic partnership."
The company reported revenue of $4.7 billion beating estimates by $30 million and reported EPS of a loss of 2 cents, missing EPS estimates by 1 cent. Despite missing EPS estimates, the company showed a narrower net loss compared to the year-earlier period.
In addition, the company raised fourth quarter revenue guidance to between $5.33 billion and $5.5 billion.
"We maintained excellent momentum in the third quarter as we saw stronger than expected year-over-year growth in both gross merchandise volume and active customer accounts," CEO Richard Liu said.
"We solidified our market leadership through multiple initiatives to enhance customer experience, extend coverage in lower-tier cities, increase mobile penetration and position JD.com as the most trusted e-commerce platform in China," Liu added.