JD.com Q3 Loss Narrows

(RTTNews) - Chinese online retailer JD.com, Inc. (JD) Monday reported a narrower loss for third quarter, helped by a rise in active customer accounts which boosted sales.

Net loss narrowed to RMB164.36 million or $26.78 million from RMB664.58 million last year. Net loss per share amounted to RMB0.06 compared with RMB0.39 a year ago.

Excluding certain items, the company recorded a profit of RMB370.78 million or $60.41 million. Adjusted profit per share was RMB0.27 or $0.04.

On average, fourteen analysts polled by Thomson-Reuters estimated a loss of $0.01. Analysts' estimates typically exclude one-time items.

Net revenues increased to RMB29.01 billion or $4.73 billion from RMB18.04 billion in the previous year. Analysts projected revenues to be $4.67 billion.

The company's core online direct sales for the 3-month period grew 57 percent to $4.46 billion.

JD's gross merchandise volume grew 111 percent to RMB67.3 billion, and the number of orders fulfilled were up by RMB96.7 million to RMB178.2 million a year ago.

Looking ahead, the company expects fourth-quarter revenues to be RMB32 billion to RMB33 billion. Analysts estimate revenues to be $5.28 billion for the fourth quarter.