JD.com swings to profit, net revenues increase by 11.4 percent

JD.com, Inc. net revenues for the third quarter of 2022 were 243.5 billion Chinese yuan (134.2 billion dollars), an increase of 11.4 percent from the third quarter of 2021.

Net service revenues for the quarter were 46.5 billion Chinese yuan (6.5 billion dollars), an increase of 42.2 percent.

The company said, income from operations was 8.7 billion Chinese yuan (1.2 billion dollars), compared to 2.6 billion dollars for the same period last year. Non-GAAP income from operations was 9.9 billion dollars (1.4 billion dollars) compared to 4.6 billion Chinese yuan for the third quarter of 2021. Operating margin of JD Retail before unallocated items for the third quarter of 2022 was 5.2 percent compared to 4 percent.

The company’s net income was 6 billion Chinese yuan (0.8 billion dollars) compared to a net loss of 2.8 billion Chinese yuan for the same period last year. Non-GAAP net income was 10 billion Chinese yuan (1.4 billion dollars) compared to 5 billion Chinese yuan for the same period last year.

Diluted net income per ADS was 3.57 Chinese yuan (50 cents), compared to a diluted net loss per ADS of 1.81 Chinese yuan for the third quarter of 2021. Non-GAAP diluted net income per ADS was 6.27 Chinese yuan (88 cents), compared to 3.16 dollars for the same period last year.

Annual active customer accounts increased by 6.5 percent to 588.3 million in the twelve months ended September 30, 2022 from 552.2 million in the twelve months ended September 30, 2021.