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Revenue for the three months to end-December came in at 80.3
billion yuan ($11.67 billion), beating JD's forecast of 75-77.5
billion yuan and up from 54.6 billion yuan in the previous year.
It also expects revenue to fall to between 72.3 billion and 74.3
billion yuan in the first quarter.
The firm's core gross merchandise volume, a measure of overall
sales volume for products on their platform excluding Paipai.com,
rose 46 percent to 209.7 billion yuan from the year earlier.
JD said it agreed on March 1 to move ahead with the
reorganization of its financial unit, making the unit a fully
Chinese-owned entity, which is a licensing requirement for
managing certain financial products in the country.
JD.com, which owns 68.6 percent of the unit prior to the deal,
will sell 28.6 percent of the unit for approximately 14.3
billion yuan in cash, the company said.
JD.com chairman Richard Liu will acquire a stake of about 4.3
percent in the reorganized unit and obtain a majority of voting
rights.
In return JD.com will receive 40 percent of the restructured
entity's pre-tax profit after the transaction. JD.com will
maintain an option to convert that back to a 40 percent equity
stake should the regulatory environment change.
The transactions are expected to close in mid-2017.
JD.com's net loss fell to 1.67 billion yuan, from 7.63 billion
yuan a year earlier.
That translates to a net loss of 1.26 yuan ($0.18) per American
depository share, compared to a loss of 5.57 yuan a year
earlier.
(Reporting by Cate Cadell in Beijing and Narottam Medhora in
Bengaluru,; Editing by Sai Sachin Ravikumar and David Evans)
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