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JD.com Q2 loss narrows YOY

JD.com Inc. said its second-quarter normalized net income came to a loss of 23 fen per share, compared with the S&P Capital IQ consensus estimate of a loss of 13 fen per share.

The per-share loss narrowed 22.6% year over year from 30 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 320.3 million yuan, compared with a loss of 363.9 million yuan in the prior-year period.

The normalized profit margin climbed to negative 0.7% from negative 1.3% in the year-earlier period.

Total revenue rose 60.5% on an annual basis to 45.93 billion yuan from 28.61 billion yuan, and total operating expenses climbed 58.7% on an annual basis to 46.65 billion yuan from 29.40 billion yuan.

Reported net income came to a loss of 519.7 million yuan, or a loss of 38 fen per share, compared to a loss of 7.05 billion yuan, or a loss of 5.86 yuan per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to 6.21 yuan.