Online e-commerce company JD.com's revenue jumps 47 percent
today May 9, 2016
JD.com Inc, China's No.2 e-commerce company, reported a 47 percent rise in revenue on Monday, as sales on its platforms surged.
JD.com also said it expects revenue for the second quarter to be between 64.2 billion yuan ($9.86 billion)-66.2 billion yuan ($10.17 billion), a growth rate of 40 percent-44 percent.
The amount of goods transacted on JD.com's platforms - or gross merchandise volume - rose 55 percent to 129.3 billion yuan.
The Beijing-based company's executives have repeatedly flagged China's slowing economic growth as a potential concern, especially if consumption in the world's second-largest economy takes a hit.
China's economic growth slowed to 6.7 percent in the first quarter - the weakest since the global financial crisis.
The company said on Monday its net revenue rose to 53.97 billion yuan in the first quarter, from 36.64 billion yuan a year earlier.
The net loss attributable to shareholders widened to 909.8 million yuan from 710.2 million yuan.
Up to Friday's close, shares of the company have fallen 21.9 percent this year.
$1 = 6.5095 Chinese yuan renminbi
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