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JD.com Inc. JD,
On Monday reported lower but better than expected second-quarter profit as revenue exceeded expectations as the China-based supply chain-based technology and service provider added more than 32 million new users , a quarterly record. The stock rose 2.0% in pre-market trading, reversing earlier small declines. Net income fell to RMB 794.3 million (RMB 123.02 million), or RMB 0.50 per US certificate of deposit, from RMB 16.45 billion, or RMB 10.47 per share, there is one year old. Excluding one-time items, ADS adjusted profit slipped to RMB 2.90 from RMB 3.51, but was above the FactSet consensus of RMB 2.60. Total revenue increased 26.2% to 253.80 billion RMB ($ 39.31 billion), to beat the FactSet consensus of 248.28 billion RMB, as net product revenue rose. increased by 23.3% and net service revenues increased by 49.2%. Annual active accounts receivable increased 27.4% to $ 531.9 million in the 12 months leading up to June 30. The stock, which fell 12.6% in the past three months to Friday, closed Thursday at a one-year low of $ 62.19. In comparison, the iShares MSCI China ETF MCHI,
has fallen 16.7% in the past three months while the S&P 500 SPX,
gained 6.9%.
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