Chinese online shopping platform JD.com's net revenue rose 31.4% year-over-year to RMB 224.3 billion ($34.4 billion) in the fourth quarter of 2020, beating market estimates of RMB 219.5 billion, according to the company's unaudited earnings report released today.
JD.com's fourth-quarter revenue from services reached RMB 32.1 billion, up 53.2% year-over-year. Adjusted earnings per ADS for the fourth quarter were RMB 1.49, above Wall Street analyst estimates of RMB 1.24.
JD.com reported an operating profit of RMB 590 million for the fourth quarter, up from RMB 530 million for the same period in 2019.
Non-GAAP operating profit for the fourth quarter was RMB 1.21 billion, compared to RMB 700 million for the same period in 2019.
Active users were 472 million in the fourth quarter, up 30.3% year-over-year, the second consecutive quarterly increase of more than 30% year-over-year, and exceeding market expectations of 458 million.
Retail contributed RMB 163.078 billion to JD.com's revenue in the fourth quarter, with new businesses including logistics services to third parties, overseas business, and technology innovation contributing RMB 326 million in revenue.
JD.com's fourth-quarter other non-operating income of RMB 21 billion, compared to RMB 3.6 billion a year ago, increased significantly mainly due to the increase in the market price of JD.com's equity investment in publicly traded companies.
JD.com's revenue for the full year 2020 was RMB 745.8 billion, higher than market expectations of RMB 7405.82 billion and RMB 576.888 billion in 2019.
Its net profit for 2020 is RMB 49.405 billion, higher than the market expectation of RMB 25.146 billion and last year's RMB 12.184 billion.
As of December 31, 2020, JD.com's cash and cash equivalents, restricted funds, and short-term investments totaled RMB 151.1 billion.
JD.com shares jumped more than 11% at one point in the pre-market trading session after the release of the earnings report.
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