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JD.com (JD) 3Q16 RESULTS: REVENUE BEATS CONSENSUS ON STRONG GMV GROWTH; LOOKS AT JD FINANCE SPIN-OFF

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Executive Summary

  • JD.com reported 3Q16 revenues of ¥60.7 billion, which was slightly ahead of consensus estimates and a year-over-year increase of 38%. Net loss per ADS of ¥0.64 was ahead of consensus estimates for a net loss of ¥0.86.
  • Total GMV reached ¥158.8 billion (US$23.8 billion) in 3Q16, an increase of 43% year over year. General merchandise contributed over half of total GMV, up from 46% in the year-ago period.
  • The Board has approved a reorganization of JD Finance, including a possible spin-off, which would allow the online finance unit to expand its financial service operations in China.

 

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