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JD.com announces second quarter financial results

JD.com

JD.com, Inc., China’s technology driven e-commerce company transforming to become supply chain-based technology and service provider, announced its unaudited financial results for the three months and six months ended 30th June, 2020.

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Net revenues for the second quarter of 2020 were US$28.5 billion, an increase of 33.8% from the second quarter of 2019. Net revenues from the sales of general merchandise products were US$9.1 billion, an increase of 45.4% from the second quarter of 2019. Net service revenues were US$3.2 billion, an increase of 36.4% from the second quarter of 2019.

Income from operations for the second quarter of 2020 was US$721 million, compared to US$331 million for the same period last year. Non-GAAP income from operations was US$807 million with a non-GAAP operating margin of 2.8%, as compared to US$461 million for the second quarter of 2019 with a non-GAAP operating margin of 2.1%.

Net income attributable to ordinary shareholders was US$2.3 billion compared to US$86 million for the same period last year. Non-GAAP net income attributable to ordinary shareholders increased by 66.1% to US$851 million from US$519 million for the same period last year.

Diluted net income per ADS was US$1.48, compared to US$0.052 for the second quarter of 2019. Non-GAAP diluted net income per ADS was US$0.50, compared to US$0.33 for the same period last year.

Annual active customer accounts increased by 29.9% to 417.4 million in the twelve months ended 30th June, 2020 from 321.3 million in the twelve months ended 30th June, 2019. Mobile daily active users in June 2020 increased by 40% as compared to June 2019.

“Since the COVID-19 outbreak, JD has steadfastly leveraged our distinctive supply chain and technology capabilities to contribute to society and ensure the steady supply and undisrupted delivery of daily necessities to consumers, while helping to create jobs within our ecosystem and support business partners amidst the dynamic economic environment. I am grateful for the efforts of JD’s employees and business partners in driving another solid quarter of accelerated revenue growth, as our extensive product offerings and superior services continue to attract large numbers of new users,” said Richard Liu, Chairman and Chief Executive Officer of JD.com.

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“Our scale advantages and cost efficiency enabled us to provide attractive prices during our June 18 sales promotions, benefiting consumers and society as China’s economy emerges from the difficult pandemic period, and helped drive solid top and bottom line results for the second quarter. Our strong financial and operating performance form the basis for JD’s continued investment in innovative supply chain capabilities and a superior customer experience to support our long term growth,” said Sandy Xu, Chief Financial Officer of JD.com.

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