China-based JD.com Inc(ADR) JD provided revenue outlook for the third quarter that was better than the Street estimate.Its revenue for the second quarter came in ahead of the estimates.
The company suffered a net loss of 132.1 million Yuan or $19.92 million in the second quarter. In comparison, the year-ago loss was 510.4 million Yuan. On a GAAP basis, it incurred a loss of $0.03 a share while the adjusted loss was $0.04 a share.
JD.com generated revenue of $9.82 billion, which was slightly ahead of $9.81 billion expected by the analysts.
CEO Richard Liu commented, "With our reputation for high-quality online shopping and same-day delivery already cemented with Chinese consumers, we are taking steps to further extend that advantage through efforts like our new strategic alliance with Walmart and Chinese online supermarket Yihaodian."
Going forward, the e-commerce company expects net revenues to grow 34–38 percent, i.e. RMB 59 – RMB 61 billion, in the third quarter.
The stock traded $0.87, or 3.89 percent, higher at $22.37 in Wednesday's pre-market session.
China's other internet leader, Alibaba Group Holding Ltd BABA, was up about 0.8 percent at $85.88 in pre-market trading.
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