JD.com, China’s ecommerce company, has announced its financial results for the quarter and full year ended December 31, 2018.
“In the fourth quarter of 2018, JD.com continued to outperform the industry across our key product categories. Our investments in technology enhanced the customer experience and enabled greater operating efficiency,” said Richard Liu, Chairman and CEO of JD.com in a statement.
During the quarter, the retailer’s net revenues reached USD 219.6 billion, up by 22.4 percent. Its net service revenues were USD 2.1 billion, up 45.7 percent.
Net revenues for the full-year 2018 stood at USD 67.2 billion, an increase of 27.5 percent. Meanwhile, net service revenues were USD 6.7 billion, up 50.5 percent.
Net loss for the fourth quarter was USD 0.7 billion, while non-GAAP net income was USD 109.1 million.
Net loss for the full-year 2018 was USD 0.4 billion. Non-GAAP net income was USD 0.5 billion.
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Annual active customer accounts increased to 305.3 million in the twelve months ended December 31, 2018 from 292.5 million in the twelve months ended December 31, 2017.
Quarterly active customer accounts in the fourth quarter and third quarter, increased by 20 percent and 22 percent, as compared to the same periods in 2017, respectively.
JD.com now estimates net revenues for the first quarter of 2019 to grow by 18-22 percent compared with the first quarter of 2018.