JD.com’s revenue up 20.7pc in first quarter

BEIJING (XINHUA) – Chinese e-commerce giant JD.com reported steady revenue growth in the first quarter (Q1) of 2020, with its net revenue expanding 20.7 per cent year on year.

The company raked in CNY146.2 billion (about USD20.61 billion) in net revenue in Q1, according to JD.com’s unaudited financial results released on Friday.

Its net income from sales of general merchandise stood at CNY52.5 billion during the period, up 38.2 per cent year-on-year. JD.com’s annual active customer accounts registered a 24.8-per cent year-on-year growth to 387.4 million in the 12 months ending on March 31, 2020, while its average daily number of active mobile users surged 46 per cent year-on-year in March.

The company expected its Q2 net revenue to range between CNY180 billion to CNY195 billion, representing a year-on-year growth rate between 20 per cent and 30per cent.

JD.com had more than 220,000 employees as of the end of 2019, with over 40,000 newly added within last year.