JD.com has reported a 20.9 percent increase in net revenues to 121.1 billion yuan (118 billion dollars) in the first quarter of 2019 compared to the same quarter last year.
Net service revenues at the company also rose to 12.4 billion yuan (1.9 billion dollars), an increase of 44 percent compared to the first quarter of 2018. JD.com now expects net revenues for the second quarter of 2019 be between 145 billion yuan and 150 billion yuan, representing a growth rate between 19 percent and 23 percent compared with the second quarter of 2018.
“JD.com’s focus on delivering the best and most trusted online retail experience to customers throughout China drove another strong performance for the first quarter,” Richard Liu, CEO of JD.com said in the report.
“We will continue to invest in key technologies and top industry talent as we work to reach an even broader customer base through cutting edge innovation. With our growing scale and increasingly efficient operations, JD.com remains well positioned to deliver strong shareholder value for the long term.”