JD.com (JD) Misses Q3 EPS by 1c, Sales Beat
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JD.com (NASDAQ: JD) reported Q3 EPS of ($0.02), $0.01 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $4.7 billion versus the consensus estimate of $4.67 billion.
Active customer accounts increased from 22.1 million in the third quarter of 2013 to 46.1 million in the third quarter of 2014, an increase of 109%.
"We maintained excellent momentum in the third quarter as we saw stronger than expected year-over-year growth in both gross merchandise volume and active customer accounts," said Richard Liu, founder, Chairman and Chief Executive Officer of JD.com. "We solidified our market leadership through multiple initiatives to enhance customer experience, extend coverage in lower-tier cities, increase mobile penetration and position JD.com as the most trusted e-commerce platform in China."
"GMV generated from our marketplace tripled compared to the third quarter of 2013 as we expanded our merchant base and diversified our product offerings," continued Mr. Liu. "We also improved our mobile offerings on both the JD.com native app and our level-one access points on Weixin and Mobile QQ, spurring mobile orders to grow more than five times year-over-year. Looking forward, we will continue to improve JD.com's customer experience by extending our industry leadership in product authenticity, rapid delivery, and superior customer service."
"We are very pleased to deliver accelerated top line growth, while achieving higher than expected profitability in a seasonally slow quarter," commented Sidney Huang, JD.com's Chief Financial Officer. "We will continue to focus on investing in new strategic initiatives, improving customer experience, enhancing brand recognition and increasing penetration in lower-tier cities. I'm confident this will enable us to win customers and build market share in the years ahead."
For earnings history and earnings-related data on JD.com (JD) click here.
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