JD.com Quarterly Revenue Soars by 38 Percent

BEIJING, China — JD.com Inc , China's second largest e-commerce firm, said on Tuesday its third-quarter revenue grew 38 percent from a year ago, slightly exceeding expectations.

JD.com said revenues for the three months ending September were 60.7 billion yuan ($8.86 billion), beating average estimates of 60.2 billion yuan, according to a survey of 15 analysts by Thomson Reuters.

JD.com in August forecast third quarter revenues of 59-61 billion yuan, amid concerns that China's retail sector would be hit by a slowing economy.

The company's net loss for the quarter expanded to 807.9 million yuan from 534.9 million yuan a year earlier.

JD.com saw a net loss of 0.64 yuan ($0.10) per American Depository Share in the third quarter, compared to a loss of 0.39 yuan a year earlier.

The company recorded 158.8 billion yuan in gross merchandise value (GMV) for the third quarter, up 43 percent from the same period in 2015.

By Cate Cadell; editor: Muralikumar Anantharaman.