Slight miss on the guide
JD.Com Inc. (NASDAQ: JD) is down over 2% in pre-market trading following the release of its Q1 2018 earnings results earlier this morning.
The Chinese e-commerce giant reported revenue of RMB100.1 billion (US$16.0 billion), a 33.1% increase from the year-ago period, and non-GAAP diluted EPS from continuing operations of RMB0.71 (US$0.11), a 22.8% decrease from the year ago period,
JD.com’s strong revenue growth in the first quarter was helped by a 27.6% increase in annual active customer accounts to 301.8 million and a 30.4% increase in Gross Merchandise Volume (GMV) to RMB330.2 billion.
As for the second quarter, the company stated that it current anticipates revenue in the range of RMB120 billion-RMB124 billion, which represents growth of 29-33% from the year-ago period. Estimates were at RMB122.4 billion – so the guide could be construed as a slight negative. Overall this is still a fast growing Chinese e-tailer to have on your radar, especially given that it is down over 23% from its highs.