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Translated by: MOS English Team -Mark Wen

On May 17, JD.com released its financial reports, showing that in the first quarter of this year, JD’s total revenue was 239.7 billion yuan, up 18% year-on-year, compared to market expectations of 236.7 billion yuan. Operating profit was $2.4 billion, compared to $1.7 billion a year ago. Net loss attributable to common shareholders was $3.0 billion, compared to net income of $3.6 billion in the same period last year.

Image Source: cnbc

JD explained the reason for the loss, mainly due to the continued investment in infrastructure, technology research and development, employee compensation and benefits, as well as the impact of the epidemic and concessions to consumers.

Meanwhile, Dada’s revenue was also consolidated into JD’s first quarter earnings report as JD completed the subscription of Dada Group’s common stock offering in February.

Image Source: zebra

By the close of the U.S. stock market on May 17, JD rose 4.15% to close at $53.67.

Reference:
https://gnewsapp.com/post/p2550257/

Edited by: MikeHua
Posted by: Peter Chen

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