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The
company, Alibaba Group Holding Ltd's main rival in online
shopping, said on Tuesday fourth-quarter revenue rose 57 percent
to 54.6 billion yuan ($8.34 billion), ahead of the average
market forecast of 51.794 billion yuan, according to a Thomson
Reuters poll of 13 analysts.
However, JD.com's net losses ballooned to 7.6 billion yuan
($1.16 billion) in the last quarter, more than 16 times as much
as a year earlier, which it blamed on impairment charges on its
Paipai.com business. Excluding one-off and extraordinary items
net losses were 656.2 million yuan.
China's economy has been growing at its slowest rate in a
quarter of a century, although consumer buying is still
relatively healthy.
The total value of merchandise transactions on JD.com's
platforms was up 69 percent at 145.3 billion yuan ($22.19
billion) in the quarter.
($1 = 6.5484 Chinese yuan renminbi)
(Reporting by Paul Carsten; Editing by Stephen Coates, Greg
Mahlich)
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