JD.Com Inc (NASDAQ: JD) shares rose, on reporting better-than-expected earnings for its third quarter on Monday.
China’s largest retailer today announced its unaudited financial results for the quarter ended September 30, 2017.
Net revenues for the third quarter of 2017 were RMB83.7 billion ($12.6 billion U.S.), an increase of 39.2% from the third quarter of 2016.
Gross profit for the third quarter of 2017 was RMB13.0 billion ($2.0 billion U.S.), an increase of 50.3% from the third quarter of 2016. Non-GAAP gross profit4 was RMB12.8 billion ($1.9 billion U.S.), an increase of 51.9% from the same quarter last year.
Net income from continuing operations attributable to ordinary shareholders for the third quarter of 2017 was RMB1.0 billion ($0.2 billion U.S.), compared to a net loss from continuing operations attributable to ordinary shareholders of RMB0.5 billion for the same period last year.
Non-GAAP net income from continuing operations attributable to ordinary shareholders for the third quarter of 2017 was RMB2.2 billion ($0.3 billion U.S.), an increase of 359% from the third quarter of 2016.
To quote JD CEO Richard Liu, "We are achieving our mission of bringing China’s consumers the widest selection of top brands and, by far, the highest quality e-commerce experience.
"We are also building robust product content and enhancing user engagement, as our innovative tools enable brands to execute highly targeted online marketing programs. We look forward to helping more and more merchants and partners leverage JD’s leading open infrastructure to drive efficiency and grow sales."
JD shares grew $1.72, or 4.3%, to $41.68 late Monday afternoon.
