******BIG BEAT AND PARTNERSHIP DEAL WITH TENCENT*********************
EARNINGS DETAILS
JD.comreports Q1 beats with 21% Y/Y revenue growth. In-line Q2 guidance has revenue of RMB 145-150B vs. RMB 145.53B.
Q1 net service revenue was up 44% Y/Y to $1.9B. Net product revenue was up 19% in the period to $16.2B. Cost of revenue grew 20% to $15.3B.
Non-GAAP operating margin was up from 0.8% to 1.6%.
Annual active customer accounts increased from 305.3M to 310.5M. Quarterly active accounts were up 15% Y/Y.
JD ended the quarter with $6.1B in cash and equivalents.
Tencent agreement: JD renews its agreement with Tencent for a three-year period starting May 27. Tencent will offer Weixin access points for traffic support and the companies will continue to collab on projects. The cooperation will amount to $800M and Tencent will issue about $250M in Class A shares over the three years.
EARNINGS DETAILS
JD.comreports Q1 beats with 21% Y/Y revenue growth. In-line Q2 guidance has revenue of RMB 145-150B vs. RMB 145.53B.
Q1 net service revenue was up 44% Y/Y to $1.9B. Net product revenue was up 19% in the period to $16.2B. Cost of revenue grew 20% to $15.3B.
Non-GAAP operating margin was up from 0.8% to 1.6%.
Annual active customer accounts increased from 305.3M to 310.5M. Quarterly active accounts were up 15% Y/Y.
JD ended the quarter with $6.1B in cash and equivalents.
Tencent agreement: JD renews its agreement with Tencent for a three-year period starting May 27. Tencent will offer Weixin access points for traffic support and the companies will continue to collab on projects. The cooperation will amount to $800M and Tencent will issue about $250M in Class A shares over the three years.