JD.com Announces Third Quarter 2016 Results

BEIJING, China, Nov. 15, 2016 (GLOBE NEWSWIRE) -- JD.com, Inc. (NASDAQ:JD), the largest Chinese e-commerce company by revenue, today announced its unaudited financial results for the quarter ended September 30, 2016.

Third Quarter 2016 Highlights
  • Net revenues for the third quarter of 2016 were RMB60.7 billion (US$ [1]9.1 billion), an increase of 38% from the third quarter of 2015. Revenues from services and others, mainly from the company's e-commerce platform business, for the third quarter of 2016 were RMB5.6 billion (US$0.8 billion), an increase of 60% from the third quarter of 2015.
  • Gross profit for the third quarter of 2016 was RMB9.6 billion (US$1.4 billion). Non-GAAP gross profit [2] for the third quarter of 2016 was RMB9.4 billion (US$1.4 billion), an increase of 59% from RMB5.9 billion in the third quarter of 2015.
  • Loss from operations for the third quarter of 2016 was RMB416.2 million (US$62.4 million), compared to RMB667.2 million for the same period last year. Non-GAAP income from operations [3] for the third quarter of 2016 was RMB401.0 million (US$60.1 million), as compared to non-GAAP loss from operations of RMB179.6 million in the third quarter of 2015. Non-GAAP operating margin of JD Mall [4] for the third quarter of 2016 was 1.1%, compared to 0.7% for the third quarter of 2015.
  • EPS and Non-GAAP EPS. Net loss per ADS for the third quarter of 2016 was RMB0.64 (US$0.10), compared to RMB0.39 for the third quarter of 2015. Non-GAAP net income per ADS for the third quarter of 2016 was RMB0.20 (US$0.03), as compared to RMB0.02 in the third quarter of 2015.
  • Operating cash flow for the third quarter of 2016 was RMB6.6 billion (US$1.0 billion) inflow, compared to RMB1.4 billion outflow for the same period last year. Free cash flow [5], which excludes JD Finance net originations [6]/(repayments) included in the operating cash flow, for the third quarter of 2016 was RMB5.4 billion (US$0.8 billion) inflow, compared to RMB0.3 billion outflow for the same period last year. Free cash flow for the trailing twelve months ended September 30, 2016 totaled RMB16.7 billion (US$2.5 billion), compared to RMB5.6 billion for the trailing twelve months ended September 30, 2015.
  • GMV for the third quarter of 2016 increased by 43% to RMB158.8 billion (US$23.8 billion) from the core GMV (excluding Paipai.com) of RMB111.0 billion in the third quarter of 2015. GMV excluding virtual items [7] for the third quarter of 2016 totaled RMB155.6 billion (US$23.3 billion), up 47% from the third quarter of 2015.
  • Annual active customer accounts increased by 57% to 198.7 million in the twelve months ended September 30, 2016 from 126.9 million in the twelve months ended September 30, 2015, excluding unique customers from Paipai.com.
  • Fulfilled orders excluding virtual items in the third quarter of 2016 were 401.2 million, an increase of 55% from 258.1 million orders fulfilled for the core business excluding virtual items in the same period in 2015. Fulfilled orders placed through mobile accounted for approximately 79.7% of total orders fulfilled in the third quarter of 2016, an increase of more than 110% compared to the same period in 2015.

"We are delighted to announce another strong quarter of results, with solid growth in revenue and new users, as Chinese consumers increasingly prefer to shop online for high-quality products," said Richard Liu, Chief Executive Officer of JD.com. "Long-term investment in our business model is clearly winning over the market and changing the dynamics of e-commerce in China. Looking ahead, we will continue to pursue growth while stepping up our investment in cutting-edge technologies to further enhance user experience."

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