Investing.com – JD.com ADRs (NASDAQ:JD) traded 0.6% higher in Monday's premarket trading as the Chinese e-commerce giant's second-quarter revenue and earnings came in ahead of expectations.
Annual active customer accounts increased by 27% to 531.9 million by end of June from 417.4 million a year ago.
Growth was helped by several tie-ups the company sewed up with international brands during the period, including the start of a distribution agreement with LVMH's (PA:LVMH) BVLGARI brand, which began to sell its jewelry and watches on the platform. Berluti, a luxury menswear fashion house that is also part of the LVMH group, established its first official global flagship store on JD.com during the period.
JD Health launched direct sales flagship stores of AstraZeneca (NASDAQ:AZN) and Sanofi (NASDAQ:SNY).
Net revenue for the second quarter was RMB 253.8 billion ($39.3 billion), an increase of 26% from a year ago and some 2% higher than the RMB 248.59 billion estimated by analysts.
All expenses rose and the company’s gains from sale of properties was less than half of last time’s, all of which combined to pull down profits relative to the previous year.
Net income was RMB 4.6 billion, compared to RMB 5.9 billion a year earlier.
Adjusted earnings per ADS were RMB 2.90, higher than the analyst estimate of $2.69.