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JD.com Q4 loss narrows YOY

JD.com Inc. said its fourth-quarter normalized net income was a loss of 1.00 yuan per share, compared with the S&P Capital IQ consensus estimate of a loss of 35 fen per share.

The per-share loss narrowed 45.1% year over year from 1.83 yuan.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.42 billion yuan, compared with a loss of 2.50 billion yuan in the year-earlier period.

The normalized profit margin climbed to negative 1.8% from negative 4.6% in the year-earlier period.

Total revenue climbed 46.9% year over year to 80.19 billion yuan from 54.60 billion yuan, and total operating expenses rose 43.8% from the prior-year period to 80.70 billion yuan from 56.10 billion yuan.

Reported net income totaled a loss of 1.74 billion yuan, or a loss of 1.23 yuan per share, compared to a loss of 7.36 billion yuan, or a loss of 5.38 yuan per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 1.99 yuan per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 6 fen.

EPS was a loss of 2.63 yuan in the prior year.

Normalized net income was a loss of 2.79 billion yuan, compared with a loss of 3.60 billion yuan in the prior year.

Full-year total revenue increased 43.5% year over year to 260.12 billion yuan from 181.28 billion yuan, and total operating expenses rose 41.8% year over year to 262.27 billion yuan from 185.00 billion yuan.

The company said reported net income came to a loss of 3.81 billion yuan, or a loss of 2.72 yuan per share, in the full year, compared with a loss of 9.11 billion yuan, or a loss of 6.66 yuan per share, the prior year.

As of May 1, US$1 was equivalent to 6.90 yuan.