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JD.com posts narrower loss for Q4'17

Chinese e-commerce giant JD.com Inc. said March 2 that it expects further revenue growth in the first quarter of 2018, after reporting a narrower net loss in the fourth quarter of 2017 and profit for the full year.

During the three months ended Dec. 31, 2017, net loss was 909.2 million Chinese yuan, improving 27.9% from a net loss of 1.26 billion yuan in the year-ago period. The S&P Capital IQ consensus estimate for fourth-quarter GAAP net income was for a loss of 514.6 million yuan.

Diluted net loss per share for the quarter was 64 fen, compared to 89 fen in the year-ago period. The S&P Capital IQ consensus estimate for GAAP EPS was for a loss of 36 fen per share.

Net revenue for the fourth quarter increased 38.7% year over year to 110.2 billion yuan. Within that figure, revenue grew by 37.3% for online direct sales and 54.7% for services and others.

For full year 2017, the online retailer recorded net income of 116.8 million yuan, compared to a net loss of 2 billion yuan in the prior year. The S&P Capital IQ consensus estimate for full-year GAAP net income was 400.1 million yuan.

Diluted net income per share came in at 8 fen, compared to a diluted net loss per share of 1.43 yuan for full year 2016. The S&P Capital IQ consensus estimate for full-year GAAP EPS was 29 fen.

Net revenue for the full year was 362.3 billion yuan, up 40.3% from the previous year. Net revenue from online direct sales jumped 39.5%, while the metric from services and others increased 49.9%.

JD also noted that its annual active customer accounts grew 29.1% to 292.5 million in the 12 months ended Dec. 31, 2017, from 226.6 million in the year-ago period.

For the first quarter of 2018 ending March 31, JD expects net revenue to come in between 98 billion yuan and 100 billion yuan, representing a growth rate between 30% and 33%, compared to the same quarter in 2017, excluding an impact from JD Finance for the 2017 period.

CFO Sidney Huang said in a statement: "In 2018, we will continue to prioritize investments in technology, user experience and expanding the JD ecosystem to bring more value to our customers and business partners."

As of March 1, US$1 was equivalent to 6.36 Chinese yuan.