JD.com Post Net Loss for Third Quarter Despite Higher Revenue

   By Clarence Leong 
 

JD.com Inc. posted a net loss in the third quarter amid weaker operating income, even as revenues strengthened.

The Chinese e-commerce company said it recorded a loss of 2.81 billion yuan ($ 440.6 million) on net income of CNY 7.56 billion a year earlier.

Revenue for the quarter rose 25.5 percent to CNY 218.71 billion, he said Thursday.

Operating income fell 41% to CNY 2.57 billion, in part due to general and administrative expenses, which jumped 91% year on year to CNY 3.05 billion. This was mainly due to an increase in share-based compensation spending, JD.com said.

The company recorded CNY 3.1 billion other non-operating losses in the quarter, mainly due to a change in the fair value of its equity investments, he said.

Net loss per US custodian share was CNY 1.81, compared to CNY 4.70 income per ADS a year earlier.

“We will continue to focus on building high quality businesses and investing in core technologies and capabilities to ensure JD’s sustainable growth over the long term,” said Sandy Xu, CFO of JD.com .

The company said its annual active accounts receivable increased 25% to more than $ 550 million in the 12 months ended September 30.

 

Write to Clarence Leong at clarence.leong@wsj.com

 

(END) Dow Jones Newswires

November 18, 2021 05:12 ET (10:12 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Ann J. Cox