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JD.com Q1 loss narrows YOY

JD.com Inc. said its normalized net income for the first quarter amounted to a loss of 33 fen per share, compared with the S&P Capital IQ consensus estimate of a loss of 0 fen per share.

The per-share loss decreased 87.5% year over year from 2.60 yuan.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 445.7 million yuan, compared with a loss of 2.37 billion yuan in the year-earlier period.

The normalized profit margin climbed to negative 1.2% from negative 10.5% in the year-earlier period.

Total revenue grew 61.7% year over year to 36.64 billion yuan from 22.66 billion yuan, and total operating expenses grew 41.3% on an annual basis to 37.46 billion yuan from 26.51 billion yuan.

Reported net income totaled a loss of 710.5 million yuan, or a loss of 52 fen per share, compared to a loss of 5.29 billion yuan, or a loss of 5.80 yuan per share, in the prior-year period.

As of May 8, US$1 was equivalent to 6.21 yuan.